AECOM enters Chinese environmental project joint venture to tackle anticipated $2.5 trillion spend
A major global infrasturcture firm has entered into a Joint Venture (JV) with one of the largest state owned enterprises in China to facilitate a growing need for strong environmental needs across the country.
Estimated investment in China’s environmental protection industry could exceed RMB17 trillion (approximately US$2.5 trillion) over the next few years.
AECOM, the global network of engioneering specialists and professionals, has entered into the JV with China Communications Construction Company Limited Highway Consultants, a subsidiary of China Communications Construction Group (CCCC).
Through the JV, the two companies will work to provide a wide variety of consulting and planning services for environmental restoration, projects for soil and groundwater pollution, water resources, surface water and sediment remediation, and treatment of solid waste, air and waste water.
The JV comes at a key moment in China’s environmental restoration industry. Economic and social development has accelerated across the PRC, raising growing concerns over environmental responsibilities.
PRC national government studies and recently, landmark legislation at national, provincial and municipal levels point to a dramatic shift forward in official and public support for environmental remediation. The official focus area of “Greening: Developing environmental technology industry, as well as ecological living and ecological culture” was named one of five core pillars of the PRC national government’s thirteenth Five-Year Plan (the PRC’s official national economy plan period), launched in late 2016.
“We look forward to working closely with HPDI-CCCC, to deliver bold and sustainable solutions for the 1.3 billion population of the People’s Republic of China, through AECOM’s international expertise and diverse skills, and HPDI-CCCC’s deep local knowledge and extensive reach,” said Mr. Sean Chiao, Asia Pacific president of AECOM. “As a global company with deep roots in many markets, AECOM’s 9,000 environmental specialists across the globe are working to provide comprehensive solutions addressing the most difficult environmental challenges faced by the world today, and we are eager to bring this expertise to bear for the benefit of improving China’s land, water and air quality.”
“It’s a great honor for us to be a joint venture partner of the leading global infrastructure company,” said Mr. Pei Minshan, chairman and general manager of HPDI. “Since its establishment over 60 years ago, HPDI has extensively participated in infrastructure planning and construction in China. We fully understand the significance of environmental protection. Under strategic development guidance of ‘Five-style CCCC’ (world-renowned engineering contractor, city complex developer and operator, distinctive property developer, comprehensive infrastructure investor, general contractor of heavy-duty marine equipment and harbor machinery production & system integration), and with AECOM’s globally leading technologies and methodologies, we hope to build a more open channel for the cooperation between the two companies, and make greater contributions to the improvement of China’s environmental quality.”