16 Oct 2017
Everbright International Secures Shandong Rizhao Waste-to-energy Project Phase II16 October 2017, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has recently signed a supplementary concession agreement with Rizhao Bureau of Housing and Urban-rural Development, Shandong Province, to invest in and construct Rizhao Waste-to-energy Project ("Rizhao Project" or the "Project") Phase II.
The total investment of Rizhao Project Phase II is approximately RMB168 million, and it will be invested and constructed on a BOT ("Build-Operate-Transfer") basis. It has a designed daily household waste processing capacity of 400 tonnes. The Project Phase II is equipped with one 400 tonnes/day grate furnace and one 9MW turbine power generator. Its gas emissions will fully comply with the Euro 2010 Standard. The Project Phase I commenced operation in October 2015 with an investment of approximately RMB350 million. Once the Project Phase II completes construction, the total daily waste processing capacity of Rizhao Project will increase to 1,000 tonnes, and is expected to generate annual average green electricity of approximately 130 million kWh, which will further accelerate the harmless treatment, reduction and reuse of the local household waste.
Mr. Hu Yanguo, CEO of Environmental Energy Sector at Everbright International, said, "With continuous social and economic developments, as well as the improvement in living standards in Rizhao City, there has been an increasing demand for the treatment of household waste in the city. The signing of Rizhao Project Phase II will be able to address this demand in a timely manner. It is also a testament to the recognition of Everbright International from Rizhao Municipal Government and the local residents. Rizhao City received the UN-Habitat Scroll of Honor Award in 2009 for its outstanding achievements in living and ecological environment planning. We will continue to live up to our culture of 'Integrity, Pragmatism, Efficiency and Innovation' and leverage our technological expertise, high-quality construction skills and extensive management experience to develop Rizhao Project Phase II into a new benchmark for the industry. Through this project, we aim to provide a more livable urban environment for the local residents and to constantly facilitate the city's sustainable development."