15 Aug 2013
Everbright International's Suzhou Waste-to-energy Project Phase III
15 August 2013, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") announces that the extension work of Suzhou Waste-to-energy Project Phase III ("Suzhou Project Phase III") has obtained a subsidy of RMB30 million under the scheme of the "2013 Central Budgetary Investment Plan", which is jointly organized by the National Development and Reform Commission ("NDRC"), the Ministry of Finance and other national ministries.
Obtains RMB30 million Subsidy from the National Development and Reform Commission
The extension work of Suzhou Project Phase III commenced in September 2011 and started commercial operation in January 2013. The project is designed to process 1,500 tonnes of daily household waste with a total investment of approximately RMB750 million. Suzhou Waste-to-energy Project Phase I, II & III are designed with a total daily waste processing capacity of 3,550 tonnes. It is to date the largest waste-to-energy project with the highest operation standards in the PRC, opening a new era for processing household waste to achieve the objective of "Complete Incineration and No Landfills" in Suzhou.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "In order to accelerate the construction of facilities for waste water treatment projects and waste processing projects in urban and rural areas and to effectively protect and improve the environment, the NDRC allocated special funds for waste water treatment projects and construction of recycling facilities and the non-hazardous waste treatment facilities in urban and rural areas under the scheme of the "2013 Central Budgetary Investment Plan". This is the fourth subsidy obtained by the Group from the NDRC, following the subsidies granted to our Jiangsu Zhenjiang Waste-to-energy Project, Suqian Waste-to-energy Project and Changzhou Equipment Manufacturing Project in 2012. This demonstrates the government's recognition of the Group's efforts to take responsibility for the environment and the society. The Group will, as always, construct every project to the highest quality, to ensure that projects meet emission standards and fulfill our role in environmental restoration."