Global infrastructure investors such as Actis and I Squared Capital are reportedly evaluating bids for ECO, a wholly owned Singapore waste management company owned by Beijing Capital Group, according to sources with direct knowledge of the situation. Singapore’s Keppel is also among the interested parties. These companies are collaborating with financial advisers as they assess making binding offers for ECO Special Waste Management.

Beijing Capital engaged Citigroup last year to facilitate the sale, which is anticipated to yield between US$300 million and US$400 million. The deadline for submissions is approaching, with bids expected by the end of this month. However, ongoing discussions indicate that no final decisions have been made, and the firms may opt out of the bidding process.

Beijing Capital acquired the company from private equity firm Navis Capital for S$246 million in 2015. The growing interest in Southeast Asia’s waste management sector stems from the region’s rapid population growth and increasing focus on sustainable practices.

In 2022, a consortium led by Keppel secured an 80% stake in Singaporean environmental services company 800 Super for S$304 million. This trend reflects the wider commitment to enhancing waste management and promoting greener practices within the industry.

ECO, founded in 1997, operates from its facilities in Tuas View Circuit, equipped with a fleet of over 40 waste collection vehicles, providing essential waste management services across Singapore. Beijing Capital also has a diverse portfolio, operating in wastewater treatment, water construction, real estate development, financial services, and cultural and sports sectors in China.