SINGAPORE (Nov 21): China Jinjiang Environment has secured a concession to build a waste-to-energy (WTE) facility in Leting County, Hebei Province, China, with an estimated investment cost of RM330.1 million ($65.5 million).
Construction is expected to be completed by 2020.
The upcoming facility has a total designed waste treatment capacity of 450 tons per day for municipal solid waste, 100 tons per day for other types of solid waste and 60 tons per day for sewage.
Under the concession, the group will be able to construct, own and operate the facility for the concession period of 30 years from construction, including an operation period of 28 years from commencement.
In a filing on Tuesday, the China Jinjiang says it will fund its new investment through a combination of bank borrowings and internal resources.
It does not expect the project to have a material impact on its current financial year ending Dec 31.
Year to date, shares in China Jinjiang Environment have fallen by nearly half to 45 cents.