31 Mar 2014
Everbright International Secures Nanjing Waste-to-energy Project Phase II
Constructs the Group's Largest Waste-to-energy Project and Joins Hands with Nanjing to Improve the City's Environment Image31 March 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed an expansion project agreement with the Nanjing Municipal Urban Management Bureau based on the Nanjing Waste-to-energy Project ("Nanjing Project" or the "Project") Phase I in the Nanjing Jiangnan Veinous Industrial Park. Everbright International will construct Nanjing Project Phase II with a total investment of approximately RMB 987 million.
Nanjing Project Phase II is designed with a total daily household waste processing capacity of 2,000 tonnes, generating green electricity of over 227,000,000 kWh annually. It will be constructed on a BOT basis and be transferred at the same time as Phase I. All gas emissions will comply with the Euro 2000 Standard and it is expected to be completed for commercial operation at the end of 2015.
The construction of Nanjing Project Phase I is expected to be completed and commence commercial operation in the second quarter of this year with a designed daily processing capacity of 2,000 tonnes. With the rapid development of the city, the amount of household waste in Nanjing has increased dramatically. In order to deal with waste disposal effectively, the Nanjing Municipal Government has decided to expand the Project with a second phase. Nanjing Project will become the largest Waste-to-energy project operated by Everbright International with a designed total daily processing capacity of 4,000 tonnes.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Nanjing is a core city of the Yangtze River Delta Economic Zone. Starting with the Project Phase I, Everbright International has already focused its efforts on the city and joined hands with the local government, including the development the Jiangnan Veinous Industrial Park. We are confident that Nanjing Project will become an excellent livelihood project and align with Nanjing Municipal Government's roadmap for urban planning and the environmental protection industry to make Nanjing a more livable city."