11 Dec 2017
Everbright Greentech Secures Shandong Yiyuan Integrated Projects and Dongming Hazardous Waste Treatment Project11 December 2017, Hong Kong - China Everbright Greentech Limited ("Everbright Greentech" or the "Company") (HKSE: 1257) is pleased to announce that it has recently secured Zibo Yiyuan Integrated Biomass and Waste-to-energy Projects ("Yiyuan Integrated Projects") and Heze Dongming Hazardous Waste Integrated Treatment Project ("Dongming Hazardous Waste Project") in Shandong Province, with a total investment of approximately RMB843 million.
Yiyuan Integrated Projects command a total investment of approximately RMB553 million. The project will be invested, constructed and operated by a project company that is jointly established by Everbright Greentech and the investor representative of the People's Government of Yiyuan County. Everbright Greentech will hold a 95% equity stake in the project company. Specifically, with an investment of approximately RMB308 million, Yiyuan Integrated Project (Biomass) is designed with an annual biomass processing capacity of 300,000 tonnes, and is expected to generate approximately 210 million kWh of electricity annually, for an operation period of no less than 30 years. Yiyuan Integrated Project (Waste-to-energy) commands an investment of approximately RMB245 million, with a designed daily household waste processing capacity of 400 tonnes for a concession period of 30 years. Its gas emissions fully comply with the Euro 2010 Standard. Yiyuan County is located in the hinterland of Shandong's central area. While promoting the local urbanisation steadily, the county has continuously strengthened efforts to improve its overall rural environment. This has resulted in an increasing demand for the proper treatment of local rural and urban waste.
Dongming Hazardous Waste Project commands an investment of approximately RMB290 million. The project will be invested, constructed and operated by a project company that is jointly established by Everbright Greentech and a corporate partner. Everbright Greentech will hold a 51% equity stake in the project company. The project is designed to have an annual hazardous waste treatment capacity of 30,000 tonnes, of which, the capacity of incineration, physical-chemical treatment and landfill disposal are 15,000 tonnes, 5,000 tonnes and 10,000 tonnes, respectively. The project is designed to have a storage capacity of approximately 150,000 m³, with an operation period of 50 years. Historically known as the "Junction Connecting Three Provinces", Dongming County has a convenient transportation network, and acts as a gateway county connecting Jiangsu, Shandong, Henan and Anhui provinces.
Mr. QIAN Xiaodong, CEO of Everbright Greentech, said, "Yiyuan Integrated Projects are the first of this type secured by Everbright Greentech in Shandong Province, demonstrating that this innovative model has been recognised in more domestic provinces. With an increasing demand for environmental management in urban and rural areas, the urban-rural integration model is expected to increase in popularity and be applied in more counties. As always, we will fully utilise our resources and advantages to develop the project as a benchmark and demonstration project within the region."
Mr. QIAN Xiaodong continued, "Following our hazardous waste treatment projects in Zibo, Shouguang, Linshu and Laiyang, the acquiring of the new project in Dongming County will undoubtedly further strengthen Everbright Greentech's market position and competitive advantage in hazardous waste treatment sector in Shandong Province. We will adhere to our business philosophy of striving for excellence and innovation, to achieve steady progress with the project, and to develop the project into a landmark in the region, providing long-term support for hazardous waste treatment and environmental management in Dongming County and also Shandong Province."