EB ENVIRONMENT plans to establish a joint venture to deploy waste-to-energy business in Uzbekistan

According to the news from Zhitong Finance APP, EB ENVIRONMENT (00257) announced that on October 16, 2025, its wholly-owned subsidiary China Everbright International signed a shareholders' agreement and other related establishment documents with Maxsus and China Railway 17th Bureau Group Second Engineering Co., Ltd. (both independent third parties) to establish a joint venture. Accordingly, Project Company A and Project Company B will be established to invest, design, construct, operate, and maintain their respective waste-to-energy projects in Uzbekistan.

According to the terms of Shareholders' Agreement A, the registered capital of Project Company A shall be USD 29.6 million, of which USD 26.048 million, USD 2.96 million, and USD 592,000 will be contributed by China Everbright International, Maxsus, and China Railway 17th Bureau Group Second Engineering Co., Ltd., respectively. After the establishment of Project Company A, the equity will be owned by China Everbright International, Maxsus, and China Railway 17th Bureau Group Second Engineering Co., Ltd. in the proportions of 88%, 10%, and 2%, respectively.

According to the terms of Shareholders' Agreement B, the registered capital of Project Company B shall also be USD 29.6 million, with contributions of USD 26.048 million, USD 2.96 million, and USD 592,000 from China Everbright International, Maxsus, and China Railway 17th Bureau Group Second Engineering Co., Ltd., respectively. After the establishment of Project Company B, the equity will be owned by China Everbright International, Maxsus, and China Railway 17th Bureau Group Second Engineering Co., Ltd. in the proportions of 88%, 10%, and 2%, respectively.

According to the shareholders' agreements, Project Company A and Project Company B will be established in the Fergana region and Namangan region of Uzbekistan, respectively. The establishment of the joint venture marks a strategic expansion of the group's renewable energy business portfolio in Central Asia. This initiative aligns with the group's international strategy to develop renewable energy infrastructure in emerging markets and seize the growing demand for waste-to-energy solutions. The board believes that this expansion will help consolidate the group's market position and is expected to bring sustainable returns to shareholders