StockNews - SembCorp Industries invests in lead recycling in China

SembCorp Industries (SCI) one of Singapore's largest industry conglomerate will make one of its largest investment in China through its subsidiary SembCorp Environmental Management (SembEnviro). In this joint venture with China's largest lead recycler, Jiangsu Chunxing Alloy Group, SembEnviro will provide up to 400 million Yuan (about S$80 million) for a 50% stake in a new JV company, Jiangsu SembCorp Chunxing Alloy which will operate recycling plants in 7 Chinese cities.

SembCorp has been looking for new avenues for growth, and has counted its utilities and enviromental management arm to provide growth to its business and to offset the slowdown in its Engineering & Construction arm.