26 May 2013
Everbright International secures Binhai Hazardous Solid Waste Landfill Project in Jiangsu and Rizhao Waste-to-energy Project in Shandong
Enhances synergies with other projects and strengthens market presenceMay 26, 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has signed a concession agreement with the administrative committee of the Jiangsu Binhai Economic Development Zone Coastal Industrial Park for a hazardous solid waste landfill project (the "Binhai Project"). With a total investment of approximately RMB186 million, the Binhai Project will be the Group's fourth hazardous waste landfill project in the Jiangsu Province following the Suzhou Industrial Solid Waste Landfill Project, Suqian Hazardous Solid Waste Landfill Project, and Lianyungang Guanyun Hazardous Solid Waste Landfill Project.
The Binhai Project is located in the Jiangsu Binhai Economic Development Zone Coastal Industrial Park, an important chemicals industrial zone in the Yancheng District and the whole of Northern Jiangsu. The Binhai Project is strategically located in the vicinity of many chemical enterprises to benefit from significant cost advantages. The Binhai Project will operate on a BOT (build-operate-transfer) basis for 20 years. It is designed with a total landfill capacity of 600,000 m3 and an annual hazardous waste processing capacity of 30,000 tonnes.
In addition, the Group has entered into a cooperation agreement with the Rizhao Municipal Government of Shandong Province for a household waste-to-energy project (the "Rizhao Project"). The Rizhao Project will operate on a BOT basis for 25 years and a total designed daily household waste processing capacity of 900 tonnes. Phase I of the Rizhao Project is expected to have a designed daily waste processing capacity of 600 tonnes, equivalent to an annual household waste processing capacity of 220,000 tonnes, and generate 80 million kWh of electricity annually. The total investment of the Rizhao Project is RMB350 million.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The Group won the Binhai Project shortly after securing the Rizhao Project, highlighting Everbright International's commitment to securing significant business growth. The Binhai Project will not only enhance the performance of the Group's solid waste landfill business but also create synergies with our other environmental protection projects in Jiangsu and strengthen our competitiveness by expanding our economies of scale. Jiangsu and Shandong are of strategic importance for the Group, and the successful addition of the two projects will further strengthen the Group's brand name and market presence in these two provinces. Everbright International will rely on its extensive experience and technical excellence to maximise the economic and social benefits of the projects we own and operate."