11 May 2014
Everbright International Secures Shandong Tengzhou Waste-to-energy Project
11 May 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed a concession agreement with the Municipal People's Government of Tengzhou City, Shandong Province ("Tengzhou Municipal Government"), for the investment and construction of a household waste-to-energy project in Tengzhou City ("Tengzhou Project" or the "Project").
Tengzhou Project is designed with a total daily household waste processing capacity of 1,000 tonnes and will be constructed in two phases. The Project Phase I is designed with a daily household waste processing capacity of 600 tonnes, commanding a total investment of approximately RMB339 million. It is expected to generate green electricity of approximately 80,000,000 kWh annually. The Project will be constructed on a BOT (Build-Operate-Transfer) basis for 30 years and its gas emission will comply with the Euro 2000 Standard.
As the most populous county-level city in Shandong Province and one of the top 100 counties in China, Tengzhou City continues to undergo rapid economic and social development. Following the improvements in the living standards of its citizens, the Tengzhou Municipal Government is pushing forward with the development of ecological civilization to improve the environment and actively develop the harmless treatment and reuse of household waste.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Located in southern Shandong and in close proximity to northern Jiangsu, Tengzhou Project connects the Shandong and Jiangsu markets for the Group to further reinforce its footprint in these two strategic regions. As the largest integrated environmental protection service enterprise in Shandong and Jiangsu, Everbright International will adhere to its principle of quality construction and capitalize on its wealth of management experience and technical excellence to achieve the best economic and social benefits for Tengzhou Project and contribute to the sustainable development of Tengzhou City."