06 Feb 2013
Inks Ninghai Project, Rapid Expansion in Zhejiang Market
(Hong Kong, 6 February 2013) China Everbright International Limited ("Everbright International" or the "Group") (HKSE:00257) is delighted to announce that the Group has signed a BOT (Build-Operate-Transfer) agreement with Ninghai County to invest in a waste-to-energy (WtE) project in Ninghai ("Ninghai Project" or the "Project"). This is the first WtE project acquired by the Group in 2013 and the second in Zhejiang Province, kicking off the year with a strong start.
According to the investment agreement, the Ninghai Project is designed to process house hold waste of 1,050 tonnes per day. With a waste processing capacity of 700 tonnes per day, Phase I of the Project, is designed to process 255,500 tonnes of waste and generate approximately 90 million kWh per year, totaling an investment of RMB360 million.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "As outlined in the 12th Five-Year Plan, Zhejiang Province, following Guangdong and Shandong, is the third national focus on the implementation of waste reduction and reuse. By the year of 2015, the required incineration amount of house hold waste for Zhejiang Province is up to 20,000 tonnes per day according to the Five-Year Plan, indicating a huge market potential in the region. With the benefit of our strong brand as "the Most Reliable Brand in the Green World", Everbright International was able to successfully secure the Ninghai project, which has helped to expand our network in Ningbo city, further strengthen our market positioning and lay solid foundations for a multi-dimensional development of the Group in Zhejiang Province. Supported by our technological advantages and an excellent management team, we look forward to continue making greater social and environmental contributions to the region."