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03.12.2013

Abengoa strengthens its presence in China thanks to agreement with Sinosteel

  • The new agreement with Sinosteel will enable Abengoa to expand and consolidate its business in the industrial waste recycling sector.
  • The stainless steel market in China is twice as large as the European market.

Seville, March 12 2013. Abengoa (MCE: ABG.B), the international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, has signed an agreement with Sinosteel to carry out industrial waste recycling projects related to stainless steel production in China. This new alliance will strengthen the company’s activity and consolidate its position in the country.

Stainless steel production in China has multiplied in the last ten years and it now produces twice as much as Europe. The recycling of the waste generated by this industry is therefore a target market for Abengoa, through its office in Beijing.

The agreement with Sinosteel includes the study and development of a project that will enable the company to increase its recycling capacity in China to 60,000 tons of treated waste per annum. In the future, Abengoa’s potential market in China could be nearly 200,000 tons.

The stainless steel waste recycling plant is expected to be located in Binhai, northeast China, close to Beijing, and will use safe and sustainable technology for recycling this type of waste. The plant will use the latest developments in industrial technology, offering the highest standards of productivity in the industry. Abengoa’s activities in the country will also generate important environmental benefits.

In addition to the significant investment and technological development of the region, Abengoa’s activities in the country will create numerous direct and indirect jobs, while providing a sustainable and innovative solution to the Chinese industrial sector.

This new initiative will strengthen Abengoa’s leading position in the sector for integral industrial waste recycling in Asia, consolidating its growth model based on the knowledge and sustainability of its processes, offering innovative technology solutions adapted to the needs of its clients and suppliers.

About Abengoa

Abengoa (MCE: ABG.B) is an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com)

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