| Covanta Holding and GDIH to develop energy projects in Southeast
China
Covanta Holding Corporation (Covanta) announced that is has taken a 40 percent
stake in a joint venture with Guangzhou Development Industry Co., Ltd. (GDIH)
to develop energy-from-waste projects in the Guangdong Province of Southeast
China. GDIH is one of the largest power
companies in China’s Guangdong Province
and has extensive experience in energy and electric power development, construction,
operation and management.
The new company, which will be known as Guangzhou Development Covanta Environmental
Energy Co., Ltd, will design, build, own, and operate new energy-from-waste
facilities throughout the region, which includes Guangdong Province and several
of its major cities including Guangzhou, Shenzhen, Zhuhai, Dongguan, Zhongshan,
Foshan, Huizhou, Jiangmen and Zhaoqing.
China generates an estimated 280 million tons of municipal solid waste annually,
most of which is currently being disposed of via landfilling. The Chinese
Ministry of Construction has outlined a National Waste Disposal Plan to increase
energy-from-waste from 2005 levels of less than 2 percent of waste disposal
to 30 percent of total municipal waste disposal by 2030. |
