14 Jan 2013
Inked Framework Agreement on Household Waste-to-energy Project with Rizhao City
Penetrated further in Environmental Business in Shandong Province(Hong Kong, 14 January 2013) China Everbright International Limited ("Everbright International" or the "Group") (HKSE:00257) is pleased to announce that it inked a framework agreement with Rizhao Municipal Government regarding the investment of household waste-to-energy project in Rizhao City of Shandong Province ("Rizhao Project" or the "Project") on 11 January 2013. This marked an important step to further penetrate environmental business in Shandong province.
According to the framework agreement, the total designed daily waste processing capacity of the Project is 900 tonnes. Phase I of the Project is expected to process 600 tonnes per day (equivalent to 220,000 tonnes/year) and generate electricity of 80,000,000 kWh annually, commanding a total investment of RMB355 million.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Rizhao City is an excellent tourist destination in China with a renowned name of "Oriental Sun City", and is located within the Shandong Peninsula Blue Economic Zone (SPBEZ) (One of three regional ocean economic zones approved by the Cabinet in April 2010 as pilot zones for the development of China's marine economy). The signing of the Rizhao Project framework agreement manifests the 'Reliable Brand in the Green World' of the group has generated a Domino Effect in Shandong Province. With the love and support from the society, backed with our comprehensive experience accumulated in the investment and operation of our existing projects, the Group will strive to make further contribution to the social and environmental development for the rest areas of Shandong province."