22 May 2017
China's First Fully-integrated Urban-Rural Integration Project Launched in Lingbi, Anhui
The Synergetic Treatment of Urban and Rural Waste Treatment – China Everbright Genentech's World-leading and Innovative ConceptHong Kong, 22 May 2017 - China Everbright Greentech Limited ("China Everbright Greentech" or the "Company") (HKSE: 01257) is pleased to announce that the Company's Lingbi Integrated Biomass and Waste-to-energy Project ("Lingbi Urban-rural Integration Project") has completed construction and commenced commercial operation. The Lingbi Urban-rural Integration Project is the first project of its kind in China to have had its biomass treatment and waste-to-energy facilities constructed all at one time, the completion and commencement of operation of which marks a new start for China's urban-rural waste integration treatment industry.
The total investment of Lingbi Urban-rural Integration Project (Waste-to-energy) Phase I is approximate RMB250 million, and has been invested in and constructed on a BOO (Build-Operate-Own) basis for a concession of 30 years. It has a designed daily household waste processing capacity of 400 tonnes and its gas emissions fully comply with the Euro 2010 Standard. Meanwhile, the total investment of Lingbi Urban-rural Integration Project (Biomass) is approximate RMB320 million. It has a designed annual agricultural waste and straw processing capacity of 300,000 tonnes and is equipped with a 130 tonnes/hour ("t/h") furnace and a 30MW turbine power generator. The project is expected to generate approximately 210,000,000 kWh of electricity annually.
Furthermore, Nanqiao Biomass Cogeneration Project ("Nanqiao Project") has recently completed construction and commenced operation as well. The total investment of the project is approximately RMB320 million and has a designed annual agricultural waste and straw processing capacity of 300,000 tonnes. Nanqiao Project has been equipped with a 130t/h furnace and a 30MW turbine power generator, to generate approximately 210,000,000 kWh of electricity annually.
Mr. Qian Xiaodong, CEO of China Everbright Greentech, said, "The Lingbi Urban-rural Integration Project is the first fully-integrated urban and rural waste management project to have been constructed in one go in China. This innovative business model has meant that the project can process and create a synergy between agricultural and forestry waste and rural household waste. As a result, this business model is expected to not only maximise environmental service output but also to lower the overall costs of development and operation as compared with developing and operating these projects on a standalone basis, thereby increasing the overall investment returns of the relevant projects."
Mr. Qian Xiaodong added, "The completion and commenced operations of the Lingbi Urban-rural Integration Project and Nanqiao Project will take the treatment of local agricultural waste and straw and rural household waste to the next level in terms of integrated and harmless treatment methods and reuse. China Everbright Greentech will fully leverage its operating experience and abundance of resources to push forward the steady growth of its business and create desirable returns for shareholders."