05 Apr 2017
Everbright International Acquires Sanya Food Waste Treatment Project5 April 2017, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has entered into an equity transfer agreement with two independent third parties to acquire an 80% stake in the Sanya Food Waste Treatment Project with a consideration of RMB37.4 million. After the acquisition, Everbright International will conduct a comprehensive upgrade to the project.
The project is located adjacent to the Group's Sanya Waste-to-energy Project. With a total designed daily food waste processing capacity of 150 tonnes, Phase I of the project has a designed daily food waste processing capacity of 100 tonnes and already commenced a trial run on 1 January 2016. After the acquisition, Everbright International will upgrade the equipment and treatment techniques of the project to enhance its efficiency and discharge standards. The electricity and steam generated from the Sanya Waste-to-energy Project will help reduce the operating costs of the project. In addition, the residue from the food waste treatment will be delivered for coordinated processing at the Sanya Waste-to-energy Project.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The Sanya Food Waste Treatment Project is Everbright International's third food waste treatment project. By developing a future synergy with the Sanya Waste-to-energy Project, the acquisition will improve the project's overall profits and enrich the Sanya Environmental Protection Industrial Park. In order to live up to the long-standing trust the Sanya Municipal Government and the local residents have placed in Everbright International, the Group will continue to follow its ethos of "High Standards, First-class Quality and Outstanding Efficiency" during the integration and upgrading of the project, and will develop it into a demonstration food waste treatment project in the city and for the entire Hainan Province."