05 Mar 2012
Everbright International Speeds Up Market Expansion
Secured another Waste-to-energy Project in Pizhou
Has Signed Investment Agreement of Pizhou Waste-to-energy ProjectChina Everbright International Limited ("Everbright International" or the "Group") today announced that, it has signed an agreement with Pizhou Municipal Urban Management Bureau, Jiangsu Province for the investment in constructing a waste-to-energy project (the "Pizhou Project") in Pizhou. The Project will be invested, constructed and operated on BOT (Build-Operate-Transfer) mode. The Project is the 14th waste-to-energy project that the Group has been constructed in the Shandong, Jiangsu and Guangdong Province of the PRC. The Group will continue to enhance its systematic and centralized management and operation as well as resources optimization so as to strengthen its leadership position in the environmental protection industry, especially the technology innovation and environmental services sector.
Pizhou is located in the northern part of Jiangsu province and in the middle of Xuzhou and Lian Yungang. Benefited from its geographic strength, Pizhou has been rapidly developed and gradually became the business and economic hub of Jiangsu province. During the recent years, there was rapid development in population, economy and urbanization and Pizhou has been ranked the top 67th county in the PRC in 2011. Meanwhile, Pizhou has been recognized as the National Green Outstanding City, National Technology Advance City. Besides, it is striving to be the National Environmental Protection Model City as well as National Forest City.
The Pizhou Project, with a daily total designed waste processing capacity of 1,000 tonnes will be developed in phases. The Project Phase 1, with a designed waste processing capacity of 600 tonnes per day, is expected to process 219,000 tonnes of waste and generate on-grid electricity of 70,524,800 kWh annually. The Project Phase 1 will be equipped with two furnaces, each with a daily processing capacity of 300 tonnes, complemented by a 12MW generator. The total investment of the Project Phase 1 will be approximately RMB330,000,000. The construction of the Project Phase 1 will be completed in 2014. The daily total waste processing capacity will reach 13,150 tonnes after the commencement of operation of the Project Phase 1.
Mr. Chen Xiaoping, Chief Executive Officer of China Everbright International, said, "the investment of Pizhou Project is in line with the Group's long-term strategic development plan and reflects the Group's influence and brand effect. The Group will continue to take environmental protection as our social responsibility and insist to maintain the principle of building quality project and developing renowned brand. Meanwhile, the Group will further develop the R&D as the business driver to develop first class quality, high standard, advanced technology and outstanding efficiency of garden-liked waste-to-energy project."