An agreement to this effect has been signed between the company and one the zone’s administrative offices.
As per the agreed terms, Yulong has started collecting waste from 757 homesteads of Xiaoli Village.
The company will receive over $600 per homestead. Around 50% of the fee will be received after processing waste and the remainder will be received upon cleaning of the homestead.
Yulong is currently installing two mobile recycling stations with two million metric tons annual capacity in the zone, with plans to install additional stations to process all construction waste under the contract.
The processed waste will be sold to local construction companies as recycled raw materials, a move that will generate significant incremental revenue.
Yulong Eco-Materials CEO Yulong Zhu said: "This is our fourth recycling contract outside of our base in Pingdingshan within the last three months.
"We are especially excited about this agreement and its great revenue potential to our company, and believe we will retain our status as the only recycling provider within this area."
Yulong Eco-Materials anticipates to generate close to $55m over the next five years, with additional assignments within the zone.
Image: Yulong Eco-Materials is a construction waste recycling company. Photo: courtesy of phasinphoto / FreeDigitalPhotos.net.
