03 Oct 2013
Everbright International Signs Strategic Cooperation Framework Agreement with Nanjing Jiangning District Government
Reinforces Long-term Cooperation and Accelerates the Construction of Nanjing Jiangnan Veinous Industrial ParkOctober 3 2013, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed a strategic cooperation framework agreement (the "Agreement") with the Jiangning District People's Government of Nanjing City (the "Jiangning Government"). The two parties will further enhance and deepen their cooperation based on the existing waste-to-energy project.
According to the Agreement, Everbright International will appoint member to the management committee of Nanjing Jiangnan Veinous Industrial Park (the "Industrial Park") and further advance the development of the Industrial Park through a joint venture company with the Jiangning Government, in which the Group will own 51%. With extensive operational experience in environmental protection, the Group will provide financial and technical support and also take advantage of the opportunity to invest in new projects in the Industrial Park.
The economic indexes of Jiangning district have long ranked first in Nanjing and are among the top five in Jiangsu province. Modern industrial bases with an international competitive advantage have been built successively in the district. In order to promote the development of a low-carbon economy in Nanjing, and to solve the environmental problems in the development of Nanjing's economy, Nanjing Municipal Government originally planned to build a veinous industrial park in Jiangning district in 2011. The first project that Everbirght International built in the Industrial Park - the Nanjing Waste-to-energy Project (the "Nanjing Project") - is expected to undertake a trial operation in the first quarter of 2014 and to commence commercial operation in the first half of the year. The Nanjing Project has a total investment of approximately RMB 1.03 billion. It is constructed and operated on a BOT (built-operation-transfer) basis for 30 years, with a designed daily household waste processing capacity of 2,000 tonnes and an annual electricity generation of 220 million KWh.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The Nanjing Jiangnan Veinous Industrial Park is the Group's first veinous industrial park in a provincial capital city. The signing of the Agreement marks the continuous breakthrough of the operational and promotional efforts of the Industrial Park. Everbright International will follow the "Opinions of the State Council on Speeding up the Development of Energy-efficient and Environmentally-friendly Industries" to expand in-depth research and encourage the practice of integrated utilization of waste. It will contribute to the development of the Industrial Park and support the introduction of new technologies. In addition, Everbright International will combine the construction of the Industrial Park with the development of an "Urban Mining" demonstration base and a pioneering ecological civilization demonstration zone to develop a leading veinous industrial park with advanced technology and the highest standards in the country. "