At the 4th China International Import Expo on November 10, China Tianying and Standard Chartered China signed a strategic cooperation memorandum, formally reaching a strategic partnership for green development.
In the future, both parties will focus on green and sustainable development and cooperate closely on all fronts and at multiple levels in the financial sector. Standard Chartered will provide green financing, capital investment and market services for CNTY, its subsidiaries and member companies globally, helping to expand CNTY's environmental protection and new energy business in countries along the "Belt and Road" initiative and other regions around the world.
Lu Jing, Vice President of Standard Chartered China and Yan Shengjun, Chairman of CNTY signing the agreement
As a listed international company engaged in environmental services, recycling and clean energy technologies, CNTY has capitalized on its environmental protection technology, industry experience and professional team of experts to have won a number of waste incineration power generation projects in Vietnam and Singapore. In this October, CNTY successfully signed an EP contract for a WtE (waste to energy) project in the Maldives. The Hanoi project, with a total investment of over US$320 million and an average daily capacity of 4,000 tonnes, is the largest municipal solid waste treatment project in Vietnam and the second largest of its kind in the world.
Hanoi WtE plant
Upon completion, these projects will profoundly change the status quo of local waste treatment sector, alleviate troubles caused by insufficient treatment capacity, contribute to the low-carbon emission and sustainable development of the regions.
Standard Chartered has been cooperating with CNTY in green finance since 2020, providing export buyer's credit financing for the Hanoi project. After the signing of this agreement, Standard Chartered will provide comprehensive support for CNTY's export of waste-to-energy equipment and overseas project financing, debt financing, overseas M&A, overseas syndicated loans, M&A loans, trade financing, etc.
Guo Fengwei, Director and Vice President of CNTY, said, "China Tianying attaches great importance to business expansion in the international market, especially in the 'Belt and Road' countries. Standard Chartered is one of the oldest international banks with strong business presence in China. CNTY is pleased to cooperate with Standard Chartered to bring advanced WtE technology, equipment and operation experience to the relevant region and to promote local economic development, energy structure optimization and livelihood improvement. "
Lu Jing, Vice President of Standard Chartered China, said: "Sustainability has gone from an option to a must for many 'Belt and Road' markets. We are delighted to establish a new partnership with China Tianying, leveraging our network and product strengths in the relevant markets to help Chinese environmental companies capitalize on the opportunities emerging from the decarbonization process and bring sustainable products and operation experience to overseas markets."
During the 13th Five-Year Plan period, China Tianying's main business revenue, brand value and social influence grew rapidly, with it being listed in the Fortune China 500 in 2020 and 2021. In the future, CNTY will continue to deepen its construction and operation capabilities of overseas projects, and strive for the successful landing of more international EP and EPC contracts.
Looking ahead to the 14th Five-Year Plan, with the help of Standard Chartered's green finance resources and professional services, CNTY will continue to strengthen itself as a global clean energy expert in environmental protection area and enhance the global influence of Chinese enterprises in promoting sustainable development.
