31 Oct 2013
Everbright International Invests in the Construction of Integrated Hazardous Solid Waste Treatment Project in Shouguang City
The Group Will Develop Its New Business Segment and Expand the Hazardous Solid Waste Treatment Sector in ShandongOctober 31 2013, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed an investment agreement with the Shouguang Municipal People's Government of Shandong Province ("Shouguang Government") for the construction of an integrated hazardous solid waste treatment project in Shouguang City ("Shouguang Project" or the "Project"). The Project will be the China's first integrated hazardous solid waste treatment project located in a county-level city and will incorporate incineration, physicochemical treatment, landfill and the transportation of hazardous solid waste as well as many other functions.
According to the comprehensive strategic cooperation framework agreement signed by Everbright International and the Shouguang Government in May 2013, the Group will actively participate in the Shaoguang Project based on previous cooperation between the two parties for a waste-to-energy project. The total investment of the Shouguang Project, which will be constructed in two phases, is approximately RMB 390 million. The Group will invest RMB 157 million in the first phase to build a hazardous solid waste landfill project with a total landfill storage capacity of 500,000 m3 and an annual hazardous solid waste treatment capacity of 20,000 m3. Upon completion, the Project will cover the treatment of hazardous solid waste both in Shouguang City and from the surrounding counties and cities. The Shouguang Project Phase II will include the construction of hazardous solid waste incineration and physicochemical treatment projects based on the actual processing requirement of the hazardous solid waste.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Including the Binhai project in Jiangsu Province and the Zibo project in Shandong Province, the Group has secured three hazardous solid waste treatment projects this year, contributing to a total of seven projects across the two provinces. Hazardous solid waste treatment is expected to gradually form a new business segment for the Group, and Shouguang Project is an ideal example of the gradual implementation of the agreement between Everbright International and Shouguang Government. This project, together with the Zibo Integrated Hazardous Solid Waste Treatment Project, will generate synergy and highlight the Group's strength in this field as well as its commitment to expanding in the Shandong market. Riding on our wealth of experience and following our philosophy of striving for perfection, Everbright International will adhere to high standards and high quality project development and operation, and ensure that Shouguang Project is a showcase development for Shandong Province."