05 Jul 2010
Everbright International Commences Construction of Suqian Waste-to-energy Project and Increases the Investment in Suqian City
Another Exertion of Advantage of Geographical Development
Further Extension of Industrial Chain
The agreement stipulates that, Everbright International plans to gradually increase its investment in construction of energy saving, environmental protection, alternative energy and industrial park projects reaching a total value of from RMB2 billion to RMB3 billion in the coming three to five years. The first stage of alternative energy and industrial park development involves underground water plant, biomass power generation, hazardous waste landfill and photovoltaic energy projects. The second stage is to expand into sludge dehydration, solid waste treatment and electronic waste recycling and treatment projects. This is another collaboration of the two parties followed by the agreement on 2 December 2009 regarding the development of Suqian Environmental Protection Veinous Industrial Park.
Furthermore, the Suqian Waste-to-energy Project, which Everbright International tendered in November 2009, has been commenced construction on 30 June 2010. With an investment cost of approximately RMB324 million, the Suqian Waste-to-energy Project has a designed daily processing capacity of 600 tonnes and can generate 60 million kWh of power a year. Currently, the preliminary preparation work of the project has been completed. The expected construction period is 18 months, and the project is expected to be in commercial operation in 2012.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Everbright International has been in close collaboration with local governments and gradually increasing its investment in environmental protection projects in China. These programmes have fulfilled the Group's commitment to social responsibility by benefiting the local populations through creating new job opportunities and helping to protect the environment. Meanwhile, these strategic projects have successfully helped Everbright International to develop its geographical advantage in various regions, which is beneficial to the extension of its industrial chain and the consolidation of the group's foundation for sustainable development."