17 Oct 2013
Everbright International's Suzhou Solid Waste Project Phase II
Obtains RMB 3.4 million Subsidy from the Jiangsu Provincial GovernmentOctober 17, 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) announces that its Suzhou Industrial Solid Waste Landfill Project Phase II ("Suzhou Solid Waste Landfill Project Phase II") has obtained the first batch of subsidy of RMB 3.4 million under the scheme of the "Provincial Water Pollution Control in Lake Taihu Phase VII". This is the second local government subsidy the Group has obtained for its project recently following the RMB 30 million subsidy for the extension work of Suzhou Waste-to-energy Project Phase III under the scheme of the "2013 Central Budgetary Investment Plan".
Suzhou Solid Waste Landfill Project Phase II commenced construction in May 2011 and started commercial operation in November 2011. The total investment of the project is RMB 40 million. It is designed with a storage capacity of 370,000 m3 and an annual hazardous waste processing capacity of 40,000 m3. Suzhou Industrial Solid Waste Landfill Project Phase I & II are part of the only government concession project in Suzhou City that works with various types of industrial hazardous waste landfill. The total designed storage capacity is 512,000 m3. The project prevents the indiscriminate disposal of hazardous waste and takes a proactive role in protecting the environment of Lake Taihu Basin and its groundwater.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Over the past few years, the Group has been forging ahead in the environmental protection market in China. Its high-quality advanced projects have been increasingly recognized by both the central and local governments at all levels. We have received this subsidy from the Jiangsu Government for the Suzhou Solid Waste Landfill Project Phase II, and recently, were also granted a subsidy from the special funds of the central budget for Suzhou Waste-to-energy Project Phase III, which greatly encouraged the Group, as its efforts in honoring its commitment to the environment and to the society have been widely acknowledged. As always, the Group will continue to devote itself to delivering top class projects, many of which have been recognized by the government as demonstration projects, and play to its strength as a leader in the field of environmental management."