Equis Development and Hana Financial Investment have raised 100 billion won ($84 million) to construct four waste-to-energy (WTE) facilities in South Korea, according to The Asset.
The facilities will be owned and operated by Vine Enviro, which plans to pour some 300 billion won ($251 million) in the WTE facilities.
Equis, the project manager and co-owner of the WTEs will retain a 10 percent stake in Vine Enviro, with a right to expand its interest to 55 percent. The company will take care of the development, construction and operation of the assets, with plans to later expand the platform.
Comprising one of the largest platforms in South Korea, the WTEs will process more than 470,000 tonnes of waste a year. Construction is scheduled to start in the fourth quarter of 2020 with operations to commence in 2022.
