Jinjiang Environment secures maiden $61 mil waste management project in India

SINGAPORE (April 17): China Jinjiang Environment, the waste-to-energy (WTE) operator, announced it has won its first waste management project in India, a first outside its home base.

The project in Lucknow city, Uttar Pradesh, to be undertaken by Ecogreen Energy, an indirectly-held subsidiary of Jinjiang Environment, has an estimated investment amount of RMB 300 million ($60.80 million) and an initial cash outlay of INR 241.3 million ($5.23 million) which will be fully settled from the group’s internal resources.

Under the contract, Ecogreen Energy will complete the construction of the Lucknow project and will have the exclusive right to provide waste treatment services in Lucknow city. It will operate and manage the project under the build-operate-transfer model for the concession period of 30 years, and then transfer ownership back to the relevant local authorities at the end of the concession period.

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