Crown Eco Environmental Management News

Crown Eco Environmental Management News

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hazelcherry015 By hazelcherry015 Updated Jul 02, 2013

World Bank Debars China Energy Conservation and Environmental Protection Group Technology and Investment Co. New Hope & Talroad (Beijing) Environmental Technology Co. Ltd

This two-year debarment follows the company's acknowledgment of misconduct and is the first Negotiated Resolution Agreement between the World Bank and a Chinese company

WASHINGTON, July 1, 2013- The World Bank Group announced the debarment of China Energy Conservation and Environmental Protection Group Technology and Investment Co. New Hope & Talroad (Beijing) Environmental Technology Co. Ltd. (CECEP New Hope),  formerly known as New Hope & Talroad (Beijing) Environmental Technology Co., Ltd. for a period of two years following the company's acknowledgment of fraudulent misconduct impacting the World Bank-financed Shandong Flue Gas Desulphurization Project in China.  The project closed on June 30, 2012.

The case came to light as a result of a World Bank financial management review that identified discrepancies in d...