HONG KONG, July 29, 2022 /PRNewswire/ -- Baguio Green Group Limited ("Baguio" or the "Company", Stock Code: 01397.HK) is pleased to announce that a new high-speed and fully-automated plastic-sorting facility enhanced by Near-Infrared ("NIR") technology is introduced to one of Baguio's Hong Kong recycling plants to support accelerated growth. This new state-of-the-art facility facilitates rapid separation of all plastic types and colours. It not only increases the processing volume, but also strengthens Baguio's plastic-sorting capability to precisely separate the collected plastic recyclables into different types for quality conversion. When fully operational, its plastic processing capacity per year could exceed 10,000 tonnes, equivalent to 400 million bottles.
According to the HKSAR Government's Waste Blueprint for Hong Kong 2035, the city has set a target of zero landfill by 2035. Discarded plastic currently makes up more than 20% of the waste going into Hong Kong landfills. Baguio shares the HKSAR Government's commitment to creating a circular economy and is taking the lead in giving waste materials, especially plastics, a new life through recycling. As Hong Kong's market leader in recycling plastic materials, Baguio offers end-to-end services including collection, pre-treatment and sorting. The outputs are provided to New Life Plastics Limited, a joint venture between Baguio and Swire Beverages Holdings Limited, to produce food-grade recycled plastic materials.
As recycling plays an important role to reduce carbon emission, Baguio is actively contributing to create a more sustainable world.
Baguio runs Hong Kong's most comprehensive plastic collection networks. It is the operator contracted by the Environmental Protection Department ("EPD") of the HKSAR Government to manage three-colour recycling bins in 2,800+ collection points in Hong Kong Island, Kowloon and New Territories. In Jan 2022, it won a new 33-month EPD Plastic Recycling Pilot Scheme contract to provide plastic collection services for three Hong Kong districts (Eastern, Kwun Tong, and Central & Western). Baguio is also providing plastic collection service for Recycling Stations initiated by EPD, Reverse Vending Machines (RVMs) and various institutions in Hong Kong.
Baguio expects that these contracts, together with the expected surge in recycling volume from the Municipal Solid Waste charging scheme which launches next year, will accelerate its business growth. The new enhancements to its recycling capabilities will further sharpen Baguio's competitive edge, consolidating its position as Hong Kong's market leader in recycling.
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.
Source: Baguio Green Group Related Stocks: HongKong:1397
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