On October 17, 2014, Shaanxi Environmental Protection Industry Group Co., Ltd. (hereinafter referred to as “Shaanxi Environmental Protection Industry Group”) was officially launched with approval from the People’s Government of Shaanxi Province. Shaanxi Environmental Protection Industry Group is a large-size SOE created by four corporate shareholders: State-owned Assets Supervision and Administration Commission of the People’s Government of Shaanxi Province, Shaanxi Coal and Chemical Industry Group Co., Ltd., Shaanxi Yanchang Petroleum (Group) Co., Ltd. and Shaanxi Non-ferrous Metals Holding Group Co., Ltd.. The group holds RMB850m in registered capital and operates via subsidiaries such as Shaanxi Environmental Protection Co., Ltd..
The scope of business of Shaanxi Environmental Protection Industry Group includes: the creation of an investment and financing platform for environmental protection funds; integrated development and promotion of new technology and products for environmental protection purposes; professional operation of facilities for pollution prevention and control; evaluation of environmental impact; engineering and construction of pollution prevention and control projects; and environmental engineering supervision.
The creation of Shaanxi Environmental Protection Industry Group will push forward the implementation of environmental protection plans, help form an investment and financing platform for industrial development which is led by the government, fully tap the guiding role of state-owned capital, attract and mobilize social capital in prioritized areas such as pollutant emission reduction, water pollution prevention and control, air quality improvement, overall renovation of rural environment and recycled use of solid waste.
Xi’an-based attorneys Li Hao, Wei Chuande and paralegal Cai Rongjie provided legal counsel for the group. Their work included, but not limited to, due diligence, design of corporate structure, issuance of the lawyer attestation letter and legal opinion letter, etc..
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