Gelonghui March 22 | Tianjin Chuangye Environmental Protection Co., Ltd. (01065.HK) announced that the company held the 29th meeting of the 9th Board of Directors (“Board of Directors”) on March 22, 2024 to review and pass the “Proposal on Termination of the PPP Project of the Anyang Municipal Sewage Treatment Center Phase I Project”. Affected by policy adjustments to the new PPP mechanism, the board of directors agreed to discontinue implementation of the project.
Affected by the national PPP inspection, the company received the “Letter on Suspending the Anyang Municipal Sewage Treatment Center Phase I PPP Project” issued by the Anyang Municipal Finance Bureau on April 19, 2023, requesting that the implementation of the project be suspended immediately. As a result, the company suspended preliminary work such as signing the project contract and registering the project company.
On November 3, 2023, the National Development and Reform Commission and the Ministry of Finance jointly issued the “Guiding Opinions on Regulating the Implementation of the New Mechanism for Government and Social Capital Cooperation” (Letter from the State Office [2023] No. 115), requiring that projects that have not completed the bidding and procurement procedures before the clean-up and inspection of government and social capital cooperation projects in February 2023 and subsequent newly implemented government and social capital cooperation projects should all be implemented in accordance with the new mechanism stipulated in the guidance. On March 18, 2024, the Housing and Urban-Rural Development Bureau of Anyang City issued a notice on the termination of the project, clarifying that “due to policy adjustments, no contract was signed, this project was terminated”. In conclusion, the Board agreed to discontinue the project.