04 May 2017
Everbright International Obtains RMB34 Million Subsidy under the Central Budgetary Investment Plan4 May 2017, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group's Nanjing Waste-to-energy Project ("Nanjing Project") Phase II and Suqian Waste-to-energy Project ("Suqian Project") Phase II in Jiangsu Province have recently obtained a total subsidy of RMB34 million under the 2017 Central Budgetary Investment Plan.
Nanjing Project Phase II obtained an additional subsidy of RMB10 million under the 2017 Central Budgetary Investment Plan. It is the third special fund that the project has received following a special subsidy of RMB25 million from the central government and a subsidy of RMB2 million for emerging industries from the local government of Jiangning District of Nanjing in 2016. The recently obtained subsidy, which will provide more financial support for the project to better serve the major downtown areas of Nanjing, is a significant endorsement of the project's operations and management by the governments of all levels. The completion of Nanjing Project Phase II's construction and the commencement of its operations three months ahead of schedule marks the beginning of a new era in which the major downtown areas of Nanjing will fully adopt the harmless treatment, reduction and reuse of household waste, as replacement for landfill.
Additionally, Suqian Project Phase II obtained a subsidy of RMB24 million under the 2017 Central Budgetary Investment Plan for Pollution Prevention and Control in Major River Basins. The subsidy will be used for the construction of Suqian Project Phase II which will help fulfil a comprehensive water environment restoration plan for the Huai River Basin.