29 Mar 2009
Everbright International Changzhou Waste-to-energy Project Commercial Operation and Secures Jinan Xike Station Waste Water Treatment Project
Green Business Makes StridesChina Everbright International Limited ("Everbright International" or "the Group") announced that its waste-to-energy project inChangzhou City, Jiangsu Province ("Changzhou Project") begins commercial operation ahead of schedule and also that it has secured waste water treatment project in Xike Station at Jinan City, Shandong Province ("Xike Project").
Changzhou ProjectThe Changzhou Project is the Group's fourth waste-to-energy project in Jiangsu Province and commands a total investment of approximately RMB412,000,000. The project is constructed on BOT (Build-Operate-Transfer) basis with an exclusive right of operation of 25.5 years. Employing mature and advanced incineration and processing technologies from overseas and in compliance with major European pollutant emission standards, the project is capable to process up to 800 tonnes of household waste per day and generate on-grid power of approximately 77,000,000 kilowatt-hour per annum. The Group began construction of Changzhou Project in June 2007 and completed trial run in November 2008. It has passed initial examinations by the Changzhou Municipal Government, Construction Bureau of Jiangsu Province and other related departments and has commenced commercial operation.
Xike ProjectThe Xike Project is a new waste water treatment project secured by the Group in Xike, Jinan City, after the waste water treatment Plant I and II projects(Jinan Project), and Jinan Licheng project ("Licheng Project"). The Group signed a concession right agreement with the Jinan Municipal Public Utility Administration Bureau. This latest project, also on BOT basis for a term of 26 years, commands an investment of approximately RMB72,680,000 and will have a designed daily treatment capacity of 30,000 tonnes. It will be constructed in compliance with Grade 1A discharge standard, the highest requirement of the country. When it is completed, the Group will have a total daily waste water treatment capacity of 630,000 tonnes in Jinan.
Since the acquisition of Jinan Project, Everbright International has upgraded the facilities of its two treatment plants and its waste treatment capacity was increased from 200,000 tonnes a day to 400,000 tonnes a day. By the end of 2008, the Group has treated waste water with accumulated volume of 280,000,000 tonnes. Last year, the Group signed the agreements with the Jinan Municipal Public Utility Administration Bureau to expand the treatment capacity of Plant I by 80,000 tonnes, to upgrade Plant I and II and to build the Licheng Project, with all works in compliance with national Grade 1A standards. These projects are expected to be completed within this year.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "The Changzhou Project has been ready to commence commercial operation ahead of schedule and the Xike Project was secured. All these reflected Everbright International's capabilities and wide recognitions in the industry. In last year, the three waste-to-energy projects of the Group in Jiangsu Province together have processed 937,000 tonnes of household waste and generated on-grid power of 204,030,000 kilowatt-hour. With the commencement of commercial operation of Changzhou project, the environmental energy sector of the Group will be further strengthened.
"As for the new Xike Project, it is expected to present the Group with much enhanced synergies together with the Jinan Project and Licheng Project in the city in terms of integration of operations and in overall effectiveness. It has special meaning to our environmental protection business for it will give us a stronger presence in the Jinan waste water treatment sector, which will be conducive to our landing of other projects in the vicinity of the city. We will continue to develop more energy-efficient and low-emission projects and explore potential markets in other cities to help build a green environment while seizing more business opportunities."