09 Jul 2014
Everbright International Obtains RMB100 Million Subsidy from the National Development and Reform Commission9 July 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") announces that the Group has obtained a subsidy of RMB100 million under the scheme of the "2014 Central Budgetary Investment Plan", which is jointly organized by the National Development and Reform Commission ("NDRC"), the Ministry of Finance and other national ministries.
The Group's Ningbo Beilun Waste-to-energy Project Phase I ("Ningbo Project"), Nanjing Waste-to-energy Project Phase I ("Nanjing Project") and Pizhou Waste-to-energy Project Phase I ("Pizhou Project") each obtained a subsidy of RMB20 million. Sanya Waste-to-energy Project Phase I ("Sanya Project") obtained a subsidy of RMB40 million.
Ningbo Project has a designed daily household waste processing capacity of 1,000 tonnes and commenced operation in May 2014. It is located on the East China coast and is a new landmark along the coastal area of East China Sea. Nanjing Project has a designed daily household waste processing capacity of 2,000 tonnes and commenced operation in June 2014. It will serve the supporting infrastructure of the Nanjing Youth Olympic Games 2014 which is also a major development for Nanjing City and Jiangsu Province.
Pizhou Project and Sanya Project are expected to commence operation within this year. The designed daily household waste processing capacities of the two projects are 600 tonnes and 700 tonnes, respectively. Pizhou Project is the first waste-to-energy project that the Group has invested in a county-level city in the northern part of Jiangsu Province, where it will serve as an environmental protection education base. Sanya Project is the Group's first environmental protection project in Hainan Province and will be developed into a new landmark tourist attraction in Sanya City, where is commonly known as the Hawaii of the East.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The central government's increased support through policies and special subsidies from the central budget highlights how the importance it attaches to the environmental protection industry. Since 2003, when the Group transformed into the environmental protection industry, it has constructed every environmental protection project with the principles of First Class Quality, High Standard, Advanced Technology and Outstanding Efficiency. All gas emissions from the Group's waste-to-energy projects comply with the Euro 2000 Standard; and the leachate discharge has attained China's National Grade 1 Standard, realizing the target of Complete Reuse and Nil Discharge. The central government was impressed by the Group's business model of safe operation and strict compliance to emission standards."
Mr. Chen Xiaoping added, "Following the Group's Suzhou Waste-to-energy Project Phase III, Zhenjiang Waste-to-energy Project, Suqian Waste-to-energy Project and Changzhou Equipment Manufacturing Project, Everbright International obtained a subsidy of RMB100 million under the scheme of the ‘Central Budgetary Investment Plan' from the NDRC for its environmental protection projects, which demonstrates the central government's support and recognition of Everbright International's business as well as the Group's efforts in managing its environmental and social responsibilities. Everbright International will continue to do its utmost in the construction, operation and management of each and every project and will push forward environmental protection and energy conservation as well as sustainable development so as to make a greater contribution to China's environmental protection industry."