Chi­nese firm buys waste-to-en­ergy com­pany

The Pak Banker - - COM­PA­NIES/BOSS -

BEI­JING: An in­vest­ment group con­trolled by the Bei­jing mu­nic­i­pal gov­ern­ment has bought Ger­many's largest waste man­age­ment com­pany, EEW, for 1.4 bil­lion eu­ros ($1.5 bil­lion). This is the largest ever Chi­nese ac­qui­si­tion of a Ger­man com­pany, Bei­jing En­ter­prises said in a state­ment on Wed­nes­day. "By learn­ing about the lat­est Ger­man wasteto-en­ergy tech­nol­ogy and man­age­ment ex­per­tise, we will help en­vi­ron­men­tal pro­tec­tion in China and con­trib­ute to green de­vel­op­ment," said Zhou Si, vice chair­man of Bei­jing En­ter­prises.

EEW is Ger­many's lead­ing waste-to-en­ergy firm. It op­er­ates 18 garbage in­cin­er­a­tors in Ger­many and neigh­bor­ing coun­tries. In 2015, it turned 4,4 mil­lion tons of waste to en­ergy. Bei­jing En­ter­prises has sev­eral in­vest­ment projects in Malaysia, In­done­sia, Sin­ga­pore and Por­tu­gal.

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