08 Aug 2008
Everbright International Wins Jinan Waste Water Treatment Plant No. 3 Project
Optimizes Waste Water Treatment Operation in Shandong Province
China Everbright International Limited ("Everbright International" or the "Company") announces the signing of a concession agreement with the Jinan Municipal and Public Utility Bureau, pursuant to which the Company will form a new subsidiary in Jinan city (the "Project Company") to undertake on BOT basis the third waste water treatment plant in the city exclusively for a concession period of 26 years. The project commands a total investment of approximately RMB138,000,000. It will be capable of treating to 100,000 tonnes of waste water a day and service charge will be paid by the Jinan Municipal Government to the Project Company.
The project is a key construction project for the city to welcome the National Games to be held in October 2009.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Being able to win the exceptionally competitive bid among a dozen or so companies reflected clearly the wide recognition the Company enjoys for its capabilities in waste water treatment. With Plant No. 1 and No. 2 in Jinan City already under our belt, this latest win will allow us to integrate and optimize our waste water treatment operation in the city. With strengthened presence in the city, the Company will be able to more effectively pursue other environmental protection projects in neighboring areas of the city, meaning the project has strategic value in helping the Company develop its waste water treatment operation in Shandong province."