On October 11, 2017, Phu Tho Tianyu Environmental Energy Co., Ltd., a joint venture between United Expert Investment Limited (the subsidiary of CNTY) and Ouyue Resources and Environment Co., Ltd., signed the Phu Tho MSW Incineration Power Generation Disposal Agreement with Phu Tho Construction Department authorized by Phu Tho People’s Committee of Vietnam.
Pursuant to Vietnam's relevant laws, regulations and agreements, Phu Tho Tianyu exclusively invests, constructs, operates and maintains this domestic waste disposal project within the franchise period and scope of business. The term of the agreement is 50 years. Its construction scale is 1,000 tonnes/day, divided into two phases: 500 tonnes/day for the first phase and 500 tonnes/day for the second phase.
The acquisition of the MSW incineration power generation project in Phu Tho has generated positive impacts on the implementation and expansion of CNTY’s projects in Vietnam, conducive to CNTY’s sustainable development ahead.