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Lianhetech to step into environmental business

According to an announcement made by Lianhetech, its wholly-owned subsidiary Jiangsu Lianhua plans to build a hazardous waste landfill in Yancheng Xiangshui Industrial Zone with a total investment of Yuan500 million. Lianhetech said it was a brand new industry for the company.

The announcement revealed a registered capital of Yuan50 million of the company would be established, where 70% of the shares would be held by Jiangsu Lianhua and 30% would be held by Jiangsu Xinghai Port Service Company, with the scope of the business covering the operation of industrial and hazardous waste landfill.

China’s environmental regulation has become more and more stringent in the recent years. Jiangsu Yancheng is a primary destination for industrial presence, where the demand for the treatment of industrial and hazardous waste is expected grow intensively. The signing of the joint venture contract is in accordance with the future business strategy of Lianhetech, and will be an effective approach to make up for the existing business line of the company, as well as to further enhance the competitive edge of the company.