China Everbright Environment Unit Sets Up Two Waste-to-Energy JVs in Uzbekistan; Shares Slip 2%

MT Newswires Live10-17

China Everbright Environment (HKG:0257) said its wholly owned unit, China Everbright International, has agreed to form two joint ventures in Uzbekistan to develop, build, and operate waste-to-energy projects, according to a Thursday Hong Kong bourse filing.

Shares of the firm were down 2% in Friday afternoon trade.

Under the agreements signed with Maxsus Global General Trading and China Railway 17th Bureau's Second Engineering unit, each joint venture will have registered capital of $29.6 million.

Everbright International will hold an 88% stake, with Maxsus owning 10% and China Railway 17th Bureau holding 2%.

The joint ventures will be treated as its subsidiaries and consolidated into its financial statements.

Total investment for both projects, including capital contributions and related financing, is expected to reach about $296 million, the filing said.

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