23 Aug 2012
Everbright International Obtains Another Waste-to-energy Project
Successfully Secures Waste-to-energy Project in Weifang City, Shandong ProvinceChina Everbright International Limited ("Everbright International" or "the Group") (SEHK: 00257), today announced that it has signed an agreement regarding the investment of household waste-to-energy project in Weifang City of Shandong Province ("Weifang Project" or the "Project"). The Project will be operated on BOT basis. Weifang Project is the eighth waste-to-energy project secured this year. It is another landmark of the Group in expanding its market share in Shandong Province following its Jinan and Shouguang Waste-to-energy Projects and it also signifies the geographical strategic advantage of the Group.
The concession period of the Project is 30 years inclusive of construction period. The total designed daily waste processing capacity of the Project is 1,500 tonnes. Phase I of the Project, with a daily waste processing capacity of 1,000 tonnes, commands a total investment of RMB586 million. It is expected to process waste of 430,000 tonnes and generate electricity of 122,000,000 kWh annually.
Weifang Project, the third waste-to-energy project in Shandong Province of the Group, will create synergy effects with Jinan and Shouguang Waste-to-energy Projects which will facilitate the overall planning and centralized management. The Group aims at developing the Project into a new model project in the northern city of the PRC with the mission of high starting level, high standard and high quality. This will enhance our brand presence in Shandong Province and provide performance record of the Group. The Project can also serve as a base and exert influence in other counties and cities of Shandong Province as well as Hebei Province.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said "The Group will develop the Weifang Environmental Protection Veinous Industrial Park ("Industrial Park") with the Weifang Municipal Government. Weifang Project will be the first project developed in the Industrial Park and hence the success of the Project will facilitate the development of other projects. Everbright International will continue to adhere to the core principal of "Producing quality projects and Building a quality brand" so that to maximise shareholder's interests, provide career development path for its employees and make contribution to the environment for the PRC."