10 Aug 2014
Everbright International Commences Zibo Reusable Water Project Phase II and Boxing Waste Water Treatment Project Expansion and Upgrade10 Aug 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group will invest in and construct Shandong Zibo Reusable Water Project ("Zibo Project") Phase II. At the same time, the Group has also reached an agreement with the Boxing County Government of Binzhou City, Shandong province, to commence the expansion and upgrade of Boxing Waste Water Treatment Project ("Boxing Project").
Zibo Project Phase I completed construction and commenced operation in October 2011, and the annual reusable water supply capacity is 1.75 million m3. Zibo Project Phase I has adopted advanced technology to process the Grade 1A treated water from Zibo Waste Water Treatment Plant (Southern Plant) and then sells to Huadian Zibo Power Company Limited which uses as supplementary water for power plant boilers. Recently, the Group entered into a letter of intent of cooperation with another company regarding ultrapure reusable water. In order to meet the new demand, the Group will commence operation at the Zibo Project Phase II which has a designed annual reusable water supply capacity of 1.75 million m3, commanding a total investment of approximately RMB15 million.
At the same time, the Group will kick off the expansion and upgrade of Boxing Project with an investment of RMB64 million. The daily waste water treatment capacity of Boxing Project is currently 60,000 tonnes and will increase to 80,000 tonnes following the expansion and upgrade work. The water discharge will comply with the Grade 1A standard according to the ‘Discharge Standard of Pollutions for Municipal Wastewater Treatment Plant'. The expansion and upgrade of Boxing Project are expected to be completed in early 2015.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Reusable water projects are strongly supported by the PRC government which advocates the recycling of resources. In order to increase the sales volume of reusable water and improve the economies of scale and economic returns of the reusable water projects, the Group is actively looking for target clients. The expansion work of Zibo Project will further integrate water resources, solve the problem of the short supply of reusable water, and increase profit margin. Furthermore, the expansion and upgrade of Boxing Project will help to improve the local environment, raise the discharge standard of the Group's environmental water business, and enhance the business scale and economic returns of the Group's environmental water sector."