介绍:
The Asian Development Bank has approved a loan of 250 million U.S. dollars to a Chinese firm for a wastewater and sludge treatment project.
The assistance has been awarded to CT Environmental Group, which is a leading Chinese company in the treatment of wastewater.
The pact between the two companies consists of an ordinary loan worth 100 million dollars and a complementary loan equivalent to 150 million dollars.
Hisaka Kimura, head of ADB's East Asia Unit, says the loans will use both US dollars and Chinese yuan, with ADB being the sole lender within the partnership.
"Renminbi is definitely needed because all revenue of the companies is in Renminbi. So it's very important to avoid foreign exchange on this. At the same time, the U.S. dollar is needed because some of the cutting-edge technology is imported."
Under the pact, the loan will be used by CT Environmental Group to build and operate a series of specialized treatment plants.
The goal is to build the capacity to treat at least 450-thousand tons of wastewater and 4-thousand tons of sludge per day by 2019.
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