China’s Wangneng to Develop $173M Waste-to-Energy Plant in Uzbekistan

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Wangneng Environment is planning to invest 1.2 billion Chinese yuan (about 173 million US dollars) to establish a waste-to-energy facility in Uzbekistan. The project aims to expand the company’s global presence as its domestic market becomes increasingly saturated.

The plant will be located in the southwestern Bukhara region of Uzbekistan and is expected to process 1,500 tons of waste daily, according to an announcement made yesterday. Construction is projected to take two years, with a 30-year commercial operation license. Revenue will mainly come from waste disposal fees and electricity sales.

Given the highly competitive nature of the Chinese market, this international project is viewed as a new avenue for revenue growth. It also signifies a strategic move in line with China’s Belt and Road Initiative and could serve as a milestone in the company’s international expansion efforts.

Launched in late 2013, the Belt and Road Initiative is China’s global development strategy designed to boost trade, investment, and connectivity across Asia, Africa, Europe, and beyond through investments in infrastructure such as roads, railways, ports, energy projects, and digital networks.

The company has signed an investment agreement with an agency operated by Uzbekistan’s National Committee on Ecology and Climate Change. Uzbekistan is actively working to improve urban waste management and promote a greener energy transition, committing systematic support to relevant investments.

Founded in 1998, the company has been actively exploring international markets, with Southeast Asia as a key focus. Last year, it began constructing a waste-to-energy plant capable of processing 600 tons daily in Thai Binh Province, Vietnam. It has also secured contracts for waste-to-power projects in Thailand and Cambodia.

Shares of the company closed 1.5 percent higher at CNY 17.36 (roughly USD 2.50) in Shenzhen today. Since the end of last year, the stock has increased by 9.2 percent.

In the first three quarters of 2025, the company’s net profit rose 8 percent to CNY 551 million (approximately USD 79.4 million), and revenue increased by 5 percent to CNY 2.6 billion, according to its latest earnings report.