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Chinese company considers investing $200M in waste processing in Uzbekistan

Business Materials 5 November 2019 11:58

BAKU, Azerbaijan, Nov. 5

By Fakhri Vakilov - Trend:

The Chinese Hangzhou Jinjiang Group processing company is considering the possibility of building a waste processing plant in Uzbekistan, as was stated during the negotiations between representatives of the Chinese company and Uzbekistan’s Goskomekology State Committee on ecology and environmental protection, which took place in Tashkent, Trend reports citing Uzbek media.

The purpose of the meeting was to conduct negotiations regarding the participation of the Chinese side in projects implemented in Uzbekistan, as well as the creation of a modern waste recycling plant capable of producing electricity, methane, as well as aerated concrete blocks based on the produced slag. The amount of the proposed investment project is $200 million.

In addition, the parties talked over the issues of transportation, sorting, processing and disposal of waste in Uzbekistan, problems associated with sorting points located near settlements.

Hangzhou Jinjiang Group is one of the largest corporations in China engaged in the processing (sorting) of household waste.

At the end of 2018, the Group's total assets were nearly $11.4 billion and its revenue was nearly $14.2 billion.

Hangzhou Jinjiang Group has invested in Singapore, Indonesia, Vietnam, India and other countries to lay the foundation for the company's global development strategy.

Hangzhou Jinjiang Group has been ranked among the top 500 Chinese enterprises (193 in 2018), the top 500 in China (ranked 82nd in 2018), and the top 500 private enterprises in China (51th in 2018), Zhejiang Province Top 100 companies (19th in 2018) and China Energy Group 500.

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