Hong Kong's first e-waste plant to be built by German recycling firm under multimillion-dollar deal
Recycling company will build HK$548.6 million facility in Tuen Mun over two years and set up collection points and centres across the city
A German recycling company has won a multimillion-dollar contract to build and operate Hong Kong's first electronic waste recycling facility in Tuen Mun.
Alba Integrated Waste Solutions Hong Kong, a joint-venture subsidiary of the Alba Group, signed a 12-year contract with the government yesterday. It will spend two years building the plant and then operate the collection and recycling system in the city for the next 10 years.
In February, the Legislative Council's Finance Committee approved the government's request for HK$548.6 million to construct the system. The government will also fund the operation costs, which are based on the volume of e-waste collected and treated at the plant. Officials expect the bill will run to HK$200 million a year.
Axel Schweitzer, chief executive of Alba, said if the price of the recyclables did not fall during the 10-year period, the company would expect a turnover of about HK$2.5 billion over the decade. The recyclables would be mainly sold to mainland buyers.
"As a world-beating international metropolis, Hong Kong is responding proactively to the challenges of waste management and recycling," said Schweitzer.
"We are confident that the project will make a substantial contribution to the city's environmental management system and open a new chapter on its sustainable economic development."