Skip to content
AidData logo

Overview

China Eximbank provides RMB 45 million loan to Harbin Boao Environmental Technology to facilitate its 100% acquisition of P&P Industrietechnik GmbH

Commitments (Constant USD, 2023)$7,086,358
Commitment Year•2017Country of Activity•AustriaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2017
Start (actual)
Jun 29, 2017
End (actual)
Jun 29, 2017

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The loan facilitated the 100% acquisition of the Austrian company P&P Industrietechnik GmbH, headquartered at Dietrich-Keller-Straße 24, 8074 Grambach, Austria. More detailed locational information can be found at: https://www.openstreetmap.org/way/561231878

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

  • Harbin Boao Environmental Technology Co., Ltd.

Loan description

China Eximbank provides RMB 45 million loan to Harbin Boao Environmental Technology to facilitate its 100% acquisition of P&P Industrietechnik GmbH

Interest type•Unknown

Narrative

Full Description

Project narrative

In or around 2017, the Heilongjiang Branch of the Export-Import Bank of China issued an RMB 45 million (EUR 6.4 million) loan to Harbin Boao Environmental Technology Co., Ltd. — a Chinese environmental technology company and subsidiary of listed Chinese company Harbin Boshi Automation Co., Ltd. — to facilitate its 100% acquisition of P&P Industrietechnik GmbH, a Graz, Austria-based waste gas treatment systems engineering services provider, for a consideration of approximately EUR 10 million. The acquisition was completed on June 29, 2017. In October 2022, Harbin Boao Environmental Technology sold P&P Industrietechnik to plastic fabrication company Ritter for EUR 15 million.

Staff comments

1. P&P Industrietechnik GmbH, now known as P&P Industries AG, is an Austrian company specializing in industrial solutions related to waste gas treatment, sulfuric acid technology, and precious metal catalysts. They provide engineering, procurement, and construction (EPC) services, as well as proprietary equipment and supervision for plants using Wet Sulphuric Acid (WSA) technology. The company emphasizes sustainable solutions and environmental responsibility, focusing on reducing emissions and minimizing environmental impact.