BEIJING, April 8 (Xinhua) -- China's SUS Environment Co., Ltd. on Monday signed an agreement with the Asian Development Bank (ADB) for a loan of 100 million U.S. dollars.
The ADB loan will provide financing for the company's waste-to-energy (WTE) projects located in Taiyuan, the capital city of north China's Shanxi Province, and Zhuhai city in south China's Guangdong Province, according to Long Jisheng, chairman and CEO of SUS Environment.
The two projects will realize the harmless disposal of 1.75 million tonnes of household waste every year, generate 437.5 million kilowatt hours of green electricity, help reduce production of greenhouse gases by 1.17 million tonnes of carbon dioxide while creating 150 new jobs, Long said.
"The cooperation with ADB will help SUS accelerate the development of multiple projects and enable us to provide better services to the people and government where WTE projects are needed. SUS welcomes this unique opportunity to establish a long-term partnership with ADB," said Long.
"SUS is a pioneer in China's environmental protection industry. SUS's waste-to-energy facilities can meet stringent air emissions standards, recycle resources within the eco-industrial parks, and are community-centric with their onsite waste museums and artistic architectures," said Jackie Surtani, Infrastructure Finance Division Director for Southeast Asia, East Asia, and the Pacific at ADB's Private Sector Operations Department.
The loan showed ADB's confidence in China's bright future in developing a circular economy, according to Jackie Surtani.
More than 50 percent of solid waste in China's urban areas will be incinerated by the end of 2020, according to government instructions unveiled in 2016.
Established in 2008, SUS is a leading environmental protection company headquartered in Shanghai.