05 Jan 2010
Everbright International Secures First Waste-to-energy Project in Guangdong Province
Establishes Presence in Pearl River Delta RegionChina Everbright International Limited ("Everbright International" or "the Group") has signed a "concession right agreement" and a "waste treatment operation contract" with the Peoples' Government of Huidong County, Huizhou City, Guangdong Province to develop a waste-to-energy project in the county ("Huidong Project").
The Huidong Project commands a total investment of approximately HK$380,000,000 and has a designed daily household waste processing capacity of 600 tonnes. It will be operated on BOT (Build-Operate-Transfer) basis for 29 years and is expected to commence commercial operation in 2012. It will be equipped with two incinerators, each with processing capacity of 350 tonnes, and a 20MW electricity generator.
The Huidong Project is the first waste-to-energy project in the county and an important initiative of the local government in realizing reduction of emissions. The county currently disposes of household waste in landfills. However, to cope with the economic development of the county as well as to promote reduction and safe treatment of household waste, its government decided to authorize Everbright International to develop the Huidong Project.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Guangdong Province is the third region Everbright International hopes to tap for business after Jiangsu Province and Shandong Province. The landing of the Huidong Project is a breakthrough for us in the Pearl River Delta region, which is also a proof that we have forged a strong brand well-recognized by governments of different cities with the various waste-to-energy projects we are operating in Jiangsu Province.
"The Pearl River Delta region is one of the most prosperous regions in China with rising demand for environmental protection services including urban waste treatment. This demand is presenting enormous opportunities for us to grow our business. Thus, as always, we will strive to do our best for this project, which will not only enable us to build our brand in Guangdong Province, but will also give us a solid base to develop other environmental protection businesses in the Pearl River Delta region."