04 Feb 2015
Everbright International Wins Shandong Pingdu Waste-to-energy Project4 February 2015, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has won the bid for the Shandong Pingdu Household Waste-to-energy Project ("Pingdu Project" or the "Project") with the leading score in the overall bidding process. Pingdu Project will be the seventh household waste-to-energy project that the Group has invested in Shandong Province.
Pingdu Project will be constructed on a BOT (Build-Operate-Transfer) basis for a concession period of 30 years. It will be constructed in two phases and will have a total designed daily household waste processing capacity of 900 tonnes. The Project Phase I has a designed daily household waste processing capacity of 600 tonnes, commanding a total investment of approximately RMB360 million. All gas emissions will comply with the Euro 2000 Standard and it is expected to generate 70,000,000 kWh of green electricity annually.
Under the administration of Qingdao City, Pingdu City is the largest county-level administrative region in Shandong Province and a booming coastal city which is opening up to the rest of the world. The current daily household waste collection volume in Pingdu City is approximately 1,000 tonnes. Due to the growth in the local living standards, Pingdu Municipal Government is actively promoting the harmless treatment, reduction and reuse of household waste in the city. The Project will effectively improve the urban environment in Pingdu City.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Shandong Province has long been one of Everbright International's important markets. So far, the Group has invested and operated in over 20 environmental energy and environmental water projects in over 12 counties and cities in the province. Pingdu Project is another important venture in the Group's process of tapping into Shandong market. In the latest practice of integrated treatment of rural and urban household waste, the Project will help resolve local environmental problems and improve local living standards, as well as make a substantial contribution to the city's sustainable development."