24 May 2017
China Everbright Greentech Secures Three Hazardous Waste Treatment ProjectsHong Kong, 24 May, 2017 - China Everbright Greentech Limited ("China Everbright Greentech" or the "Company") (HKSE: 01257) is pleased to announce that it has signed respective agreements to secure three hazardous waste treatment projects with a total investment amounted to approximately RMB680 million. The three projects include Suqian Hazardous Waste Landfill Project ("Suqian Project") Phase II and Yancheng Rigid Structure Hazardous Waste Landfill Project ("Yancheng Project") in Jiangsu Province, as well as Laiyang Integrated Industrial Hazardous Waste Treatment Project ("Laiyang Project") in Shandong Province.
According to the Second Supplemental Agreement to the Concession Agreement on the Hazardous Solid Waste Landfill Project in Suqian, which was signed between the Company and Suqian Environmental Protection Bureau of Jiangsu Province, Suqian Project Phase II will be invested in and constructed on a BOO (Build-Operate-Own) model and scheduled to be transferred at the same time as Phase I. The project will command a total investment of approximately RMB219 million, with a designed storage capacity of 400,000 m3 and a designed annual hazardous waste processing capacity of 20,000 tonnes. The completion of the project Phase II will boost the total annual hazardous waste processing capacity of the Suqian Project to 40,000 tonnes.
The Company has also signed the Supplemental Agreement to the Concession Agreement of the Yancheng Hazardous Solid Waste Landfill Project with the Management Committee of Jiangsu Binhai Economic Development Zone Coastal Industrial Park. The project will be constructed on a BOO model, with a designed storage capacity of 158,000 m3. Phase I of the project will have a designed storage capacity of 30,000 m3 and a designed annual processing capacity of 10,000 tonnes of industrial waste containing high salt content, with a total investment of approximately RMB89 million.
In addition, China Everbright Greentech has signed the Concession Agreement for Laiyang Integrated Industrial Waste Treatment BOO Project with the Management Committee of Shandong Laiyang Economic Development Zone, to build Laiyang Project on a BOO model. Phase I of the project, which will command an investment of approximately RMB371 million, has a designed annual hazardous waste processing capacity of 40,000 tonnes, of which 20,000 tonnes will be incinerated and 20,000 tonnes disposed at landfills.
Mr. Qian Xiaodong, CEO of China Everbright Greentech, said, "The signing of these three hazardous waste treatment projects will effectively boost the diversification of our hazardous waste treatment business. Specifically, Yancheng Project will adopt a rigid structure with higher standards to process local industrial waste that has a high salt content and to meet higher technological and management requirements. We are confident that by upholding the Company's engineering principles of "First Class Quality, High Standard, Advanced Technology and Outstanding Efficiency", we will develop these projects into demonstration hazardous waste treatment projects that offer safe, environmental-friendly and highly efficient waste treatment solutions."