US company set to power waste plants in China

US-based strategic investment and advisory company Thornton Asia Infra would invest between $450 million and $900 million to build several waste power plants in China over the next six months, according to Thornton Asia CEO Michael C Lin.

"We will partner several Chinese enterprises to work on the business," Lin said. "We have made a verbal agreement with a Chinese company, which is quite famous in the IT industry, on the first deal, but I cannot reveal its name until the official agreement is signed."

According to the deal, the Chinese partner would provide the local documents needed to operate incineration power plants, while Thornton would provide funding and management experience.