The Multilateral Investment Guarantee Agency (MIGA), a World
Bank Group member, yesterday said it has issued US$34.2 million in
guarantees for three infrastructure projects in China.
The guarantees insure investments in urban solid waste treatment
and water supply sectors against noncommercial risks.
One of the projects involves a US$27.7 million investment by
Golden State Waste Management Corp in the restructuring and
expansion of a solid waste treatment and power generation facility
in Beijing's Chaoyang district.
The facility will have the capacity to treat 1,600 tons of solid
waste a day and to generate 225 million kilowatt-hours of
electricity per year from the incinerator's waste heat.
With an estimated total investment of US$106.5 million, it's
expected to become the largest waste incineration and power
generation plant in China.
Another US$6.93 million insures Golden State Waste Management
(Beijing) Corp for its comprehensive solid waste treatment and
transfer center in Beijing's Fengtai district.
It will include a garbage screening system to sort renewable
resources, which it plans to sell or send to renewable resources
markets. The remaining garbage will be used as compost and for
other purposes.
"Managing scarce resources and environmental challenges is a key
focus of the World Bank Group in China," said Yukiko Omura,
executive vice-president of MIGA.
"We expect these projects to serve as a powerful model for other
investments locally and nationally."
MIGA has issued a third guarantee of US$2.33 million to Golden
State Water Group Corp for the restructuring and expansion of an
existing water supply project in Zhenjiang, East China's Jiangsu
Province.
The investment will help build up a new water reserve tank,
upgrade the plant's automation system, improve its water quality
examination techniques and streamline its operational
resources.
(China Daily July 11, 2007)
