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)
