China Jinjiang Environment Holding Co. Ltd has announced its intention to buy 51 percent of the stock of the first waste-to-energy project in Brazil for 38.5 million reais (US$11.27 million).
China Jinjiang Environment issued a written statement saying it is buying the stake from Foxx Ure-Ba Ambiental Ltda, which will build and operate a power station in the city of São Paulo which will have capacity to burn up to 825 tonnes of waste a day.
The statement quotes China Jinjiang Environment Non-executive Chairman Wang Yuanluo as saying: “The group will uphold high quality standards and efficiency levels.”
The project will kick-start the development of the waste-to-energy industry and raise standards of sustainable development in Brazil and Latin America, and pave the way for the success of China Jinjiang Environment on the continent, Ms Wang is quoted as saying.
