SINGAPORE - Mainboard-listed SIIC Environment Holdings on Monday said it has formed a joint venture company with Baowu Environment with 1.1 billion yuan in registered capital.
The JV, which was incorporated in China on Sept 27, is called Shanghai SIIC Baojin'gang Environmental Resources Technology Co Ltd. Its business activities will involve power generation, waste management and the processing and sale of slag products. The formation of the JV was done through the group's 70 per cent indirectly-owned unit SIIC Yangtze Delta and will see the unit taking a 60 per cent equity interest worth 660 million yuan. Meanwhile, Baowu Environment will take the remaining 40 per cent stake, with a 440 million yuan contribution.
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