SUEZ signed an agreement with Fulong Environmental Company1 and Wall-Mark (Hong Kong)2, establishing a joint venture that will focus on the development of industrial hazardous waste treatment. The three parties will be committed to the development of an integrated waste treatment plant with a designed capacity of 30,000 tons per year in the city of Foshan (Guangdong Province, China) in order to meet the city’s needs of hazardous waste treatment.
According to the agreement, with a shared RMB 500 million capital investment of 50% (SUEZ), 40% (Fulong) and 10% (Wall-Mark), the new joint venture “Foshan FuLong SUEZ Environmental Services Company Limited” will provide professional hazardous and industrial waste treatment solutions. The business scopes range widely from collection, storage and incineration of the special waste, sales of steam and other by-products derived from the treatment process, and provision of any related secondary services, to soil contamination remediation.
Foshan city is a major industrial hub, with an astounding number of hazardous waste generated each year. The official environmental report showed the hazardous waste volume has risen over twofold increase within 4 years, from 20,000 tons in 2010 to 69,000 tons in 2014, and growing at a fast pace. In 2016, the local government set a target of treating at least 80% of the industrial hazardous waste by 2020, ensuring a proper management throughout the process.
This joint-venture will allow the parties to combine their complementary expertise in hazardous waste treatment to offer local and tailor-made solutions to Foshan’s industrial challenges. Fulong Environmental Company is a wholly owned subsidiary of Wanxinglong Company3 focusing in hazardous waste integrated utilization and treatment services in Foshan City. Wanxinglong was established in 1999 and has been listed in National Equities Exchange and Quotations (NEEQ) since 2014 with a capital investment of RMB 104.16 million. Its core businesses include the recycling and R&D of scrap metals, the design, manufacturing, and sales of high and low voltage transformers, electrical resistors, and other supplementary products, thus extending the industrial chain and achieving the recycling process of scrap metal resources.
1 Foshan Fulong Environmental Technology Company Limited
2 Wall-Mark (Hong Kong) Limited
3 Foshan Wanxinglong Resources Recycling Holdings Company Limited