The Asian Development Bank has established a $250 million loan facility to help China-based CT Environmental Group implement its plan to build industrial wastewater treatment plants.
The facility includes a $100 million equivalent ordinary loan and a $150 million complementary loan in US dollars and yuan, funded by commercial banks, with ADB acting as lender of record.
The loan funds will be used to help the Hong Kong-listed company to build, own, and operate a pipeline of specialised industrial wastewater and sludge treatment plants across China's provinces.
“The assistance will help a new PPP model in handling wastewater and sludge from small, medium-sized enterprises, with beneficial effects for both waterways and public health,” said Hisaka Kimura, head of East Asia unit at ADB’s private sector operations department, in a statement.
“The project is timely, corresponding to the Chinese government’s goal to dramatically reduce water pollution, including through PPPs, as emphasised by the recent Water Pollution Prevention and Control Action Plan issued by the State Council.”
Treated wastewater, which meets national environmental standards, will either be discharged or supplied back to industrial customers for reuse.
The goal is to build the capacity to treat 450,000 tons of wastewater and 4,200 tons of sludge per day by 2019. ADB said.
Headquartered in Guangdong province, CT Environmental Group is a provider of centralised and customised environmental solution services.
Last year, the company entered into several agreements that saw it expand its business in the treatment of wastewater and solid waste, according to Tsui Cham To, its chairman and executive director.
CT Environmental Group had built wastewater treatment and water supply capacity of 1,075,000 cubic metres per day, with a planned pipeline of 649,500 cubic metres per day, as at the end of 2015.
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