(Yicai Global) Aug.23 --China Tianyingwill invest in a domestic waste incineration power generation project inthe Vietnamese capital ofHanoi throughalocalunitto turn waste into treasure and improve local environmental quality.

Theaffiliate,HanoiThienY EnvironmentalEnergy,recentlysigned a service project agreement with the Hanoiauthorities, the environmental protectionconstructor and operatorbased in Jiangsuprovince in eastern Chinasaid in anannouncementyesterday.

Theunitwillreceiveandtreatdomesticwastecollected and transported by Hanoi fromsurroundingcountiesundera49-year franchise,underthe agreement. It willprocess at least 4,000 tons of domestic solid waste every dayandgenerate electricityofup to75megawatts.The unit price ofwastedisposal isprovisionally set atUSD21 (taxexcluded), the announcementexplained.

The supply priceofelectricity generated by the project is aboutUSD0.10/kilowatt hour,the announcement stated. Investmentinthe wasteincinerationpower plantwilltotalaboutUSD3.2millionandthe plantwillbe completed andgointo operation within 21 monthsfromthe project's start, the announcement added.

Thesubsidiaryis ajoint venture funded byEurope Tianying, awholly-ownedaffiliateof China Tianying, aHanoirenewable energy development company,and an investment company.Itsregistered capital is about USD64 million, of which Europe Tianying holds a 66-percentstake,China Tianyingsaid.

The project will support thefirm'sperformanceoverthe coming years and promote the solid wastedisposalbusiness in Vietnam and other overseas markets,per the announcement.

Editor: Ben Armour