Chongqing Sanfeng Environment Group Corp., Ltd. (601827.SH) has announced that following the Hong Kong Special Administrative Region Environmental Protection Department's award of the Hong Kong Integrated Waste Management Facility Phase 2 (I·PARK2) project on July 13 (i.e., issuance of the letter of acceptance), a formal project contract was signed on October 6 with the consortium formed by the company and China State Construction Engineering (Hong Kong) Limited ("CSCEC Hong Kong").

The I·PARK2 project is designed to handle 6,000 tonnes of municipal solid waste per day, with a total awarded contract value of approximately HK$21.95 billion. The project adopts the NEC4+DBO (Design, Build, Operate) model, with the consortium of the company and CSCEC Hong Kong responsible for design, construction, and operation. The estimated construction period is approximately 54 months, followed by a 15-year operation period.

As a landmark project for realizing the "Hong Kong Resource Circulation Blueprint 2035," this project will further improve Hong Kong's municipal solid waste treatment system for harmless, reduced, and resource-based disposal. Meanwhile, undertaking this project also serves as an important milestone in the company's advancement of its internationalization strategy. The I·PARK2 project is expected to have a positive impact on the company's future operating performance.