Investment holding company CITIC Envirotech on Monday said it has invested 365 million yuan in two hazardous waste treatment facilities in China's Huizhou city.
The investment consists of the acquisition of 51 percent stake in two companies, namely Lixing Environmental Protection and Huilv Environmental Protection for 160 million yuan and an additional 205 million yuan for the expansion of the treatment facility of Lixing EP, it said in a statement.
Lixing EP's treatment facility, which is located at the Huiyang District of Huizhou City, has a designed capacity of 72,000 ton/year.
The treatment facility of Lixing EP will be expanded to 149,000 ton/year from 72,000 ton/year for an additional investment of about 400 million yuan.
Huilv EP's treatment facility, located at the Daya Bay District of Huizhou City, has a treatment capacity of 12,500 ton/year. It specializes in the treatment of electronic waste and hazardous waste containing precious and heavy metals.
Both Lixing EP and Huilv EP have over 10 years of experience in providing services on hazardous waste treatment, the company said.
CITIC Envirotech will fund the investment from the proceeds of the issuance of the US$180,000,000 senior perpetual securities and bank financing.
Last week, the company said it will acquire 60 percent stake in environmental and utility firm CITIC Qingyuan for 378 million yuan.
