China Waste Corporation Limited
(ASX:CWC) says its subsidiary company China Urban Mining Holdings is buying a 30 per cent stake in state-owned CECEP Clean Technology Development.
CECEP Clean Tech and China Urban Mining plan a joint venture in the business of the disposal of hazardous waste as China works to improve pollution and public health in the country.
The waste management industry is expected to garner significant government support in line with environmental protection policies.
Discussions are currently being undertaken for funding for the approximately $80 million purchase price for the 30 per cent stake.
China Waste reported a net loss of $1.4 million for the 2015 financial year.
