15 Jul 2013
Everbright International Secures Waste-to-energy Project in Heze City of Shandong Province
Further Penetrates into Inland Cities and Strengthens its Strategic Involvement in Shandong MarketJuly 15, 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has entered into a concession agreement with the Heze Municipal People's Government of Shandong Province for the construction of a household waste-to-energy project in Heze City ("Heze Project").
The Heze Project will be constructed on a BOT (Build-Operate-Transfer) basis for 30 years, with a total designed daily household waste processing capacity of 900 tonnes. Phase I will have a daily processing capacity of 600 tonnes, an annual processing capacity of approximately 220,000 tonnes, and is expected to generate approximately 80 million kWh of electricity each year. Phase I of the Heze Project commands a total investment of RMB 350 million. Heze City is located in the southwest of Shandong Province. The Heze Project marks the Group's first household waste-to-energy project in Heze City and it is also the Group's fifth waste-to-energy project in Shandong Province.
Mr. Chen Xiaoping, CEO of the Group, said, "Following the Rizhao Household Waste-to-energy Project, the Group has taken another step to deepen its strategic involvement in Shandong's environmental protection sector by securing the Heze Project, which represents a landmark project demonstrating the Group's new involvement in inland cities following its previous work in coastal cities. By securing the Heze Project, the Group's leading position in China's household waste-to-energy sector will be further strengthened, enhancing the Group's brand impact and reputation in the environmental protection industry in China. Meanwhile, the Group will leverage its wealth of experience to maintain technological advancements on the operations side, and achieve the goals to create an optimum economic and social environment."