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Lianhe Technology Co., Ltd. (Lianhetech) announced on December 9, 2017 that its wholly-owned subsidiary, Jiangsu Lianhe Technology Co., Ltd. (Jiangsu Lianhe) intended to construct Xiangshui hazardous waste landfill project in Xiangshui Industrial Economic Zone in Yancheng with total estimated investment of USD75.6 million. Lianhetech expressed that the investment was a brand-new attempt for company to enter the environmental protection industry.
The announcement showed that Jiangsu Lianhe signed the "Investment Contract" with Yancheng Xiangshui Industrial Economic Zone Management Committee and Jiangsu Xinghai Harbor affairs Co., Ltd. on December 8, 2017. In the contract, the Xiangshui hazardous waste landfill project constructed by Jiangsu Lianhe in Xiangshui Industrial Economic Zone with total estimated investment of USD75.6 million was approved.
Registered capital of the company to be set up had reach USD7.6 million, of which Jiangsu Lianhe would account for 70% stake, while Jiangsu Xinghai would hold 30% stake. Business scope is industrial waste disposal (landfill) (specific scope to the approval of the business registration authority). Besides, the registered capital of Jiangsu Lianhe was invested through its self-finance.
With increasing of the degree of national environmental policy in recent years, and under conditions of industrial cluster, Yancheng, in Jiangsu Province, has great market potential for industrial hazardous waste disposal. Strictly in accordance with high reliability requirements and high standards, Lianhetech conducts construction and treatment to further meet the local government and business environmental compliance requirements. The signing of this contract, in line with the company's future development strategy, is a powerful supplement to the company's existing business, which can further enhance the company's overall competitiveness.
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