Mil Mill, the only drinks carton recycler in Hong Kong, will be given a six months grace period after the lease ends this year.
Hong Kong Science and Technology Parks Corp (HKSTP) announced it would offer a maximum of six months grace period to Mil Mill's parent company Secure Information Disposable Services Limited (SSID).
The grace period is on top of its current year-long extension and ends on 30 June 2023, HKSTP added.
"This final offer of a 6 months' grace period aims to strike a balance among various factors including the long-term development plan of the INNOPARK and the interests of all stakeholders in the I&T ecosystem," HKSTP said in the statement on Thursday. It will continue to liaise with SSID in its transition.
Mil Mill was notified by the government-backed HKSTP this month that its lease in Yuen Long will not be renewed after year-end. The recycling company was also asked to vacate the premises by December 31.
The grace period is on top of its current year-long extension and ends on 30 June 2023, HKSTP added.
"This final offer of a 6 months' grace period aims to strike a balance among various factors including the long-term development plan of the INNOPARK and the interests of all stakeholders in the I&T ecosystem," HKSTP said in the statement on Thursday. It will continue to liaise with SSID in its transition.
Mil Mill was notified by the government-backed HKSTP this month that its lease in Yuen Long will not be renewed after year-end. The recycling company was also asked to vacate the premises by December 31.