The total expected government subsidy represents 60% of the total projected $27.1m cost to construct the hazardous waste treatment center in Changsha city, Hunan province. Hunan Hanyang has a franchise agreement with the bureau of environmental protection of Hunan province pursuant to which the company has the right to construct and operate the center for 25 years upon completion of construction.
The center is one of the 55 hazardous waste treatment centers included in the Chinese government’s national construction planning of hazardous waste and medical waste disposal facilities and it will be responsible for collection, disposal and treatment of hazardous waste generated from 10 cities in northern Hunan province including Changsha, Zhuzhou, Changde, Yiyang, Xiangtan, Yueyang, Zhangjiakou, Huaihua, Loudi and Xiangxi.
The center will include a storage facility, an incinerator, a hazardous waste landfill, and an industrial effluent treatment facility, with a total capacity of 46,000 tons per year. The company anticipates that it will take two years to complete the construction and the center will be operational in early 2012.
Jinqing Dong, CEO of China Industrial Waste Management, said: “We are pleased to receive the first installment of the government subsidy to construct a hazardous waste treatment center in Changsha city, the capital city of Hunan province. Hunan province is an attractive market for China Industrial Waste Management.”
