One company that is starting to make a move in the global green sector is China Industrial Waste Management Inc. Located in Dalian, China, the company is engaged in the collection, disposal, recycling and treatment of industrial wastes principally in Dalian and surrounding areas of China through its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd. Today, China Industrial Waste took a major step towards enhancing its future with the announcement they have received a government subsidy for their capacity expansion project.
Dalian Dongtai, the premier subsidiary of China Industrial Waste, will receive this national subsidy of RMB 5 million as funding to complete the capacity expansion project for a centralized hazardous waste treatment facility (the “Expansion Project”) in Dalian, Liaoning Province, China. This subsidy is the second installment of a series to be disbursed by the government as the Expansion Project progresses. This funding will equate to $0.7 million in American currency.
The total cost of the expansion project which Dalian embarked on in July 2008 is an estimated RMB 110 million ($16.2 million) of which RMB 33 million ($4.9 million) is expected to be subsidized by the central government. This facility will be one of two such plants in Liaoning Province. Management anticipates the Company will complete the construction of the remaining storage and processing facilities during the fourth quarter of 2010.
Leading the way at China Industrial Waste is Jinquing Dong who serves as the company’s CEO. When asked his thoughts on the subsidy and the future of China Industrial, Dong was quoted as saying, “We are very appreciative to have received the second installment of the government subsidy for our capacity expansion project in Dalian that is now 70% complete. The facility will be state-of-the-art and feature twice the capacity of our current plant. Further, we will deliver quality services for a wider range of customers in the region to satisfy the rapidly growing demand. In conclusion, we believe that this project clearly demonstrates our capabilities to manage capital waste management engineering projects.”
Currently, China Industrial Waste Management is trading in the $1.45 range. With the success of their subsidiary and the approval of the government, this is a company that is starting to earn the attention of the marketplace.
To learn more about China Industrial Waste Management Inc., visit the company website at: www.chinaciwt.com.