Established in 2009, TT is a leading local privately-owned company that operates in Vietnam’s waste treatment sector in the following four sub-segments: solid waste treatment, waste-water treatment, trading and recycling of scrap materials, and associated services including waste collection and transportation, environmental consulting services, and industrial cleaning/hygiene services.

Established in 2003 and a wholly owned subsidiary of JFE Holdings, a public company whose shares are listed on the Tokyo and Nagoya stock exchanges, JFEE provides construction and operation services for essential infrastructure, including WTE plants, water treatment plants, LNG terminals, natural gas treatment plants, bridges and ports facilities. JFEE’s services range from EPC to O&M and it has a global workforce of c. 10,000 employees with 74 subsidiaries and affiliates across 12 countries. Please refer to JFEE’s website (https://www.jfe-eng.co.jp/en/ ) for more information.

T&J is currently owned 60% by TT and 40% by JFEE. The ownership may be changed to 55% by TT and 45% by JFEE in April 2022 upon a scheduled additional capital injection.

The total Project cost is expected to be around US$74 million. The total IFC financing package is expected to be up to US$30 million, of which up to US$15 million will be from IFC’s own account and up to US$15 million will be from IFC in its capacity as implementing entity of the Finland Blended Finance Climate Program.

The Project location is in Cuu Yen village, Ngu Thai commune, Thuan Thanh district of Bac Ninh province, approximately 40km east of Hanoi, Vietnam. The Project area mainly consists of agricultural land with rice cultivation and is currently abandoned. There are no building structures, technical infrastructure, graves or cemeteries within and in the close proximity to the Project area.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability, as it is expected to have limited adverse environmental or social risks and/ or impacts that are limited in scale, few in number, generally site-specific and readily addressed through mitigation measures, by adhering to good international industry practice (GIIP) procedures, guidelines and design criteria, as described in the following sections. [The project will use GIIP, meeting requirements established under the applicable WBG Guidelines for MSW and ISW incineration.]

Key risks and impacts include the economic displacement of 116 households, limited scale environmental impacts associated with emissions (including emissions to air, odor, greenhouse gases, and noise), leachate generation, waste and hazardous material management, occupational and community health and safety, labor working conditions, transportation safety, and potential for historical groundwater and soil pollution from TT’s existing waste incinerator operations.