Chinese EfW firm for sale; Australia cracks down illegal stockpilling of waste tyres; Australians claim top newspaper recycling rates; Waste management strategy for Cayman Islands
Chinese waste firm for sale
MBK Partners is looking to sell GSE Investment, a Chinese energy-from-waste and wastewater treatment business, in which it owns about 70% stake. The company is said to be valued at around $700m (£440m) for its equity and more than $800m including debt. Environmental and waste treatment businesses in China are gaining attention and becoming increasingly popular for domestic investors.
The Wall Street Journal
Crackdown on illegal stockpiling of waste tyres
The Environment Protection Authority (EPA) is cracking down on Sydney businesses for illegally stockpiling waste tyres. Existing facilities that store more than 50 tonnes or 5,000 waste tyres must be licensed. Recent changes to legislation mean that new facilities will need a licence to store more than five tonnes or 500 waste tyres, and all facilities above this limit will need to have an EPA licence by 1 August 2015.
Aussies recycle their way to the top as new figures released
Australia has topped the global list for having the best newspaper recycling rates in the world, according to the Old Newsprint Recovery Figures 2013 report. The report confirms that Australia is a global leader in the recovery and recycling of newsprint with a rate of 78%.
The NewsPaper Works
Battery recycling business expansion in West Virginia
Metal Conversion Technologies of US is to use the abandoned Jimmy Carey football stadium in West Virginia to expand its battery recycling business. The eight-acre facility will enable the company to satisfy recycling demand for vehicle battery and other Li-ion batteries.
The State Journal
Waste management strategy for Cayman Islands
The Cayman Islands government has selected AMEC, a consultancy firm, to help plan a 50-year waste management strategy for the government. AMEC will prepare a business case and procurement support for the eventual creation of an integrated system which will include a revamp of collection, operations at the George Town Landfill site, and recycling and energy from waste proposals.
Tariff cuts on Pakistani textile imports
The Australian government is set to cut tariffs on the import of Pakistani textiles from the beginning of 2015. The maximum tariff to be imposed will be 5%.
Standards for WEEE management in Singapore
The National Environment Agency (NEA) and the Singapore Standards Council have announced a new standard for businesses and industries managing WEEE. The aim is also to raise awareness on environmentally responsible treatment of such materials. To help small and medium enterprises implement the standard, funding is available for up to 70% of the qualifying costs of adopting the standard.