19 Jan 2012
China Everbright International Secures a Project in Nanjing
Invests in a Municipal Waste-to-energy Plant in the Nanjing Veinous Industrial ParkChina Everbright International Limited ("Everbright International" or the "Group") announced that it has signed a BOT (Build-Operate-Transfer) agreement with Nanjing Municipal Urban Management Bureau for investment in constructing a waste-to-energy plant (the "Project") in Nanjing. The Project will be under centralized management together with the existing projects operating in Suzhou, Yixing, Jiangyin, Changzhou, Zhenjiang and Suqian, all of which find themselves in Jiangsu, so as to reap synergies and economies of scale. It is also the first project of the Group in 2012, which will lay a solid foundation for sustainable development of the Group in the environmental energy sector.
China Everbright International secured the tender for the Project in December 2011. The Project commends an investment cost of approximately RMB1,030,218,000 (equivalent to approximately HK$1,266,859,075) and it will be invested on a BOT basis. The Group has obtained the concession period of 30 years. With a designed waste processing capacity of 2,000 tonnes per day and 660,000 tonnes per year, the Project is expected to commence construction during 2012 and to be completed and start commercial operation in 2014. It will be equipped with four furnaces, each with a daily processing capacity of 500 tonnes, complemented by two 20MW generators.
As the provincial capital of Jiangsu Province, Nanjing is an important regional centre at the threshold of the economic core of the Yangtze River Delta area. Nanjing is the political, economic and cultural center of Jiangsu Province, the ancient capital of six dynasties and also the gateway to the Yangtze River Delta area. The Project, together with other solid waste treatment projects, is the crucial starting point based on which the Nanjing Veinous Industrial Park will gradually take shape and further develop. In 2011, Nanjing took the initiative to collect and classify waste while starting the construction of the municipal waste-to-energy project in the Jiangnan Veinous Park. The Municipal Waste-to-energy BOT Project within the park has been designated as the key project during 2012 and 2013 by the Nanjing Municipal Government, which is of significant importance to the welfare of the local citizens and as such will have a direct impact on the safety of public environment and the stability of the society. Everbright International is collaborating closely with the Nanjing Municipal Government to design and build a quality model environmental protection project to foster the well-being of the local residents.
Mr. Chen Xiaoping, Chief Executive Officer of China Everbright International, said, "Securing the tender of this municipal waste-to-energy project in the Jiangnan Veinous Industrial Park in Nanjing further expands the scale of the Group's environmental protection projects while consolidating the Group's leadership position in the waste-to-energy industry and increasing its influence and promoting its brand. The Group will continue to implement the social corporate responsibilities commensurate with our position as a publicly-listed environmental protection company to deliver work of "Excellent design through deploying state-of-art technology and advanced equipment as well as high quality construction and first class management" and develop waste-to-energy projects with first class quality, advanced technology and high standard.
Mr. Chen added: "Nanjing is a new market for Everbright International's environmental protection business as well as a key strategic investment target. This new project establishes the Company's presence within this major city's environmental protection industry, while expanding its influence and promoting its brand in the Jiangsu Province's environmental protection market. The Company will draw up on its experience from the completed Jinan project and the ongoing Suzhou Project Phase III in providing its best efforts in construction and delivering a superior environmental protection facility."