ALBA Asia

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      IFC plans to invest up to US$100 million, including 1) up to US$[60] million C loan (“Tranche 1”), and 2) a potential up to US$[40] million quasi-equity or equity (“Tranche 2”) to ALBA Group Asia Ltd. (ALBA Group Asia Ltd. and Dugong Ltd., collectively is referred to “ALBA Asia” or the “Company”). The Tranche 1 is to support the company’s development and management of a pipeline of hazardous waste (“HW”) treatment and biowaste (“BW”) treatment projects in China (the “Project”). The Company is a regional platform established by the shareholders of ALBA Group (ALBA Group also the “Sponsor”, or “ALBA”), a privately-owned global leading waste management and recycling group originated in Germany, to invest several selected high-potential waste management segments in China.ALBA Asia currently operates two plants in China, HW Jiangsu plant for inorganic hazardous waste (HW) recycling (acquired in December 2018) and BW Hainan plant for biowaste (BW) treatment (acquired in July 2019). A gas turbine of 2.5 MW is also under construction onsite which will be fueled with methane from biowaste digestion. Under the proposed investment, ALBA Asia will acquire or build additional HW treatment/recycling plants and additional BW treatment plants (the “Project”). HW Jiangsu plant is located inside a chemical/metal-processing industry park, and BW Hainan plant is inside a municipal waste treatment/disposal industry zone. Three pipeline projects for HW treatment plants will also be located in industrial areas, while the BW treatment plant projects will be located in or close to urban areas: HW Jiangsu Plant – existing hazardous waste treatment plant with planned expansion (approximately 1.5 km to nearest residential community)HW Hebei Plant – existing hazardous waste treatment plant, which is a planned acquisition (approximately 7 km to nearest residential community)HW Henan Plant – planned greenfield hazardous waste treatment plant (approximately 1.5 km to nearest residential community)HW Guangdong Plant – planned greenfield hazardous waste treatment plant (approximately 1.2 km to nearest residential community)BW Hainan Plant – existing biowaste treatment plant with planned expansion (approximately 1.5 km to nearest residential community)BW Henan Plant – planned greenfield biowaste treatment plant (site not decided)BW Guizhou Plant – planned greenfield biowaste treatment plant (site not decided)BW Guangdong Plant – planned greenfield biowaste treatment plant (site not decided) Inorganic hazardous waste treatment and recycling are carried out at HW Jiangsu and HW Henan plants and are mainly through slurrying, detoxifying, pre-treatment with slaked lime, purification, and extraction of metallic elements. Organic hazardous waste treatment will be carried out at HW Hebei, HW Henan, and HW Guangdong plants. The company is considering constructing onsite engineered landfills at selected organic HW treatment plants, to dispose of the fly/bottom ashes from the HW incinerator. The biowaste treated at Hainan, and which will be treated at the other three planned sites, are mainly restaurant/residential kitchen wastes, human sanitary waste and agriculture wastes. The main treatment is thorough physical separation to sort out non-digestible materials and anaerobic digestion with recovery of methane as compressed natural gas (CNG) for sale.