Citic Envirotech said on Friday it obtained a 310 million yuan (S$62.04 million) project for industrial hazardous waste treatment in Shihezi City, Xinjiang Province, in China.
The project, located in the Shihezi Economic and Technological Development Park, involves designing, building and operating a 30,000 ton a year incineration plant, a 30,000 ton a year physico-chemical plant, a 20,000 ton a year recover and reuse plant and a 60,000 ton a year landfill, it said in a filing to SGX after the market close on Friday.
A project company, called Xinjiang Novo Envirotech, has been set up and Citic Envirotech will hold 51 percent, while Shandong Zhengtian Environmental Technology, will hold the remainder, it said.
Xinjiang Novo Envirotech has paid-up capital of 90 million yuan, Citic Envirotech said.
The project will begin immediately and is expected to be completed in 18 months, it said.
Shandong Zhengtian is a company focused on air pollution prevention, heavy metal sewage treatment and solid waste treatment, it said.