26 Nov 2012
Everbright International has obtained continuous support from Asian Development Bank
For the development of agricultural and municipal waste-to-energy projectsFollowing the US$100 million loan jointly provided by the Asian Development Bank ("ADB") and six other commercial banks earlier this year, China Everbright International Limited ("Everbright International" or "the Group") (SEHK: 00257) is pleased to announce that new facility agreements were entered into with ADB on 26 November 2012.Pursuant to the new facility agreements, the Group was granted a facility in an aggregate amount of US$200 million, consisting of a US$100 million A loan (the "A Loan Facility") and a US$100 million B loan to support the development of our agricultural and municipal waste-to-energy projects. The tenure of the A Loan Facility is 10 years.
Everbright International has utilized part of the first ADB loan for the construction of four waste-to-energy projects in Jiangyin, Jinan, Zhenjiang and Suzhou (the Suzhou Phase III Project). Except for Suzhou Phase III Project which is expected to be completed construction by the end of this year, the other three projects, together with all operating waste-to-energy projects of the Group are running smoothly and have reached emission standard. These demonstrate the Group's commitment to environmental friendly utilization of domestic and other solid waste with the aim to achieve sustainable development.
Mr. Chen Xiaoping, the Chief Executive Officer of Everbright International said, "We are pleased to work with ADB again. The signing of the new facility agreements to include agricultural waste-to-energy marks a new level of long-term co-operation, cordial relations and trust between ADB and Everbright International. Not only will this loan provide financial support for the Group's future development, but also signifies ADB's affirmation of Everbright International's years of effort in promoting environmental protection and the Group's performance in the sustainable development. We will make use of the fund provided by ADB and seize every opportunity generated under the "Twelfth Five-Year Plan" to further develop our business in the environmental protection and renewable energy industries. We will continue to improve our engineering construction ability and operation management standard while exploring our projects, thereby enhancing our overall operational efficiency and sharing the fruitful return with our shareholders and the society as a whole."