03 Jun 2010
Everbright International Commences Environmental Protection Projects in Yantai City, Shandong Province
Expands its Environmental Protection Industrial Footprint in Shandong ProvinceChina Everbright International Limited ("Everbright International" or the "Group") has announced a framework agreement with Yantai Municipal People's Government of Shandong Province for investment and cooperation in the construction of environmental protection, alternative energy and municipal infrastructure facilities in Yantai City. The Group will invest a total of HK$3 billion to HK$5 billion in various environmental protection, energy saving and alternative energy projects within the jurisdiction of Yantai City to improve and optimise the development of environment and energy structure there.
The agreement stipulates that, within three to five years, Everbright International will invest, build and operate various new projects on a BOT or TOT basis starting with waste water treatment, waste-to-energy and wind power projects first. Collaboration on other environmental protection segments is to follow encompassing the following areas: urban water supply, reusable water, municipal waste-to-energy, sludge treatment, construction waste, integrated treatment of kitchen waste, construction and industrial energy saving, solar energy and biomass energy. The Group will also invest and build a veinous industrial park in Yantai, its fifth veinous industrial park after Suzhou, Zhenjiang, Suqian and Changzhou, all in Jiangsu Province.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said," Yantai City of Shandong Province is one of the major cities to be developed by the Group this year. Through this strategic cooperation, we will be able to further expand our environmental protection business and consolidate our leading position in Shandong Province. Important in this thrust is applying the proven model of Veinous Industrial Park in Jiangsu Province to Shandong Province to broaden the coverage of the environmental protection industrial zone business. The Yantai Municipal People's Government has provided solid support to the Group through a favourable investment climate, creating a mutually beneficial situation for the residents of Yantai and the Group."