Slaughter and May advised on the joint venture and the project financing for Hong Kong's first food-grade ready PET and HDPE plastics recycling facility
Slaughter and May, Hong Kong, advised Swire Beverages Holdings Limited (SBHL) on its joint venture with ALBA Group Asia Limited (ALBA) and Baguio Waste Management & Recycling Limited (Baguio) for the construction and operation of Hong Kong's first food-grade ready PET and HDPE plastics recycling facility. The joint venture leverages on the strengths of Baguio’s domestic collection network in Hong Kong, ALBA’s experience in providing recycling and environmental services and SBHL’s strength in the domestic beverages market. The facility is expected to commence operations in the third quarter of 2020 and is planned to be able to process the entire domestic volume of post-consumer plastic beverage bottles and personal care bottles in Hong Kong.
Slaughter and May, Hong Kong, also advised the joint venture company, New Life Plastics Limited, on its commercial agreements relating to the new plastic recycling facility, and a secured green loan from The Hongkong and Shanghai Banking Corporation Limited (HSBC). The loan from HSBC is a green sustainability-linked loan which adheres to the Green Loan Principles issued by the Loan Market Association, the Asia Pacific Loan Market Association and the Loan Syndications and Trading Association, and is independently verified by the Hong Kong Quality Assurance Agency.