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| Monday, 16 January 2023, 19:50 HKT/SGT | |
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HONG KONG, Jan 16, 2023 - (ACN Newswire) - Baguio Green Group Limited ("Baguio" or the "Company", Stock Code: 01397.HK) is pleased to announce that it has been awarded a 2-year service contract worth approximately HK$37 million, by the Environmental Protection Department ("EPD") of the HKSAR Government for the provision of food waste collection services in New Territories West commencing in April 2023.
Winning this EPD contract highlights Baguio's position as Hong Kong's market leader in food waste collection. Among the four EPD's recyclable food waste collection service contracts, Baguio has secured half of them (including this contract and Kowloon District contract awarded last year). Under this EPD contract, Baguio will collect approximately 12,000-20,000 tonnes of food waste in total during the contract period. In order to maximize the volume of food waste collected and recycled, Baguio will deploy a designated team to do community outreach, educate the stakeholders and establish a comprehensive collection network to make food waste recycling easy and convenient for the public. Food waste collected will be delivered to O.PARK1, Hong Kong's first organic resources recovery centre, where it will be turned into renewable energy, in Siu Ho Wan of Lantau Island.
According to the latest statistics released by EPD, on average 3,437 tonnes of food waste was disposed in landfills each day in 2021. Food waste is the largest single component (30%) of Hong Kong municipal solid waste ("MSW") in landfills. Referring to the "Waste Blueprint for Hong Kong 2035" published by the HKSAR Government, Hong Kong is working to achieve "Zero Landfill" by 2035. As the recycling market leader in Hong Kong, Baguio is determined to assist Hong Kong to achieve this ambition by providing various recycling services, including food waste collection.
Ms. Ng Yuk Kwan Phyllis, CEO of Baguio, said, "We are pleased to be awarded the New Territories West food waste collection contract after winning a similar contract covering the Kowloon district last year. This new contract not only symbolizes Baguio's strong commitment to increase collection of food waste but more importantly it recognizes the Company's unique ability as Hong Kong's market leader to provide comprehensive recycling services for different kinds of waste to help resolve the sustainability issues.
With the MSW Charging Scheme scheduled to be launched in the second half of this year, people are being encouraged to recycle, including food waste, to reduce the amount of waste sending to landfills. Recycling market in Hong Kong is expected to grow rapidly. As one of Hong Kong's largest recycling service providers, Baguio is well positioned to capture the significant market opportunities created by "Zero Landfill" and strengthen its leadership position in Hong Kong."
About Baguio Green Group
Established in 1980, Baguio Green Group (Stock code: 01397.HK) is one of Hong Kong's largest and most respected integrated environmental services groups. It provides a full spectrum of professional services including professional cleaning, waste collection & recycling, waste management, green technology, organic fertilizer and animal feed production, horticulture & landscaping, and pest control. It serves a wide range of customers in various sectors including Government departments, statutory organizations and multinational corporations. Fully committed to ESG, the Group works relentlessly to advance sustainable development and create a cleaner, greener, healthier city.
Topic: Press release summary
Sectors: Environment, ESG
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