ALBA Group steps up efforts to tackle China’s mounting e-waste volumes

By Anil Mathews (ScrapMonster Author)

October 21, 2015 07:56:56 AM

BEIJING (Scrap Monster): The Germany-based ALBA Group has reaffirmed its commitment to play a key role in tackling the rising e-waste volumes in China. The increasing production and consumption rate of electronics in the country suggests that China is likely to become the largest market for recycling services.

By partnering with China's National Development and Reform Commission, the company has already committed to put into operation innovative recycling solutions in Chinese mainland and Hong Kong. Incidentally, ALBA Group is the only European recycling company to have entered into such official partnership agreement.

In addition, ALBA Group subsidiary had recently signed a contract with the Environmental Protection Department of Hong Kong towards construction of full-fledged electronic waste recycling facility in Hong Kong city. As per the contract, the company is allowed to undertake collection and recycling of discarded electronics for a period of ten years. The commissioning of the $550 million e-waste recycling plant is expected to occur next year. Upon commissioning, the plant will be capable of treating 30,000 metric tons of regulated e-waste every year.

ALBA Group expects the country’s waste recycling market to grow by 15% to 50% during the next ten years. The company sees immense possibilities for steel recycling in China. The other areas that are likely to witness tremendous growth are car recycling and kitchen-based waste recycling. Although the company had turnover of 224 million euros last year in China alone, it constituted only a small part of its overseas market revenue. The company plans to transform China as its major overseas contributor to annual revenues.

ALBA Group is one of the leading recycling and environmental services companies as well as raw material providers worldwide. ALBA Group operates within Germany, Europe, the U.S. and Asia. The company had reported an annual turnover of 2.45 billion Euros in 2014 and has nearly 8,000 employees.