02 Jan 2014
Everbright International Wins Anhui Ma'anshan Waste-to-energy Project
Creates Synergies with Nearby Plants and Builds a High Quality Model Demonstration Project2 January 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") is pleased to announce that it has won a bid for a waste-to-energy project in Ma'anshan City of Anhui Province ("Ma'anshan Project" or the "Project"). Everbright International will set up a joint venture company with Ma'anshan Urban Development Investment Group Co., Ltd. ("Ma'anshan Urban Investment Group") for the construction of the Project on a BOT (Build-Operate-Transfer) basis, and both parties will own a 50% equity interest in the venture. The Ma'anshan Project is the first waste-to-energy project of Everbright International in Anhui Province.
Ma'anshan is the municipal city near Nanjing and a major industrial city in Anhui Province. It enjoys an important location in Wanjiang Economic Zone with excellent resources. The total daily waste processing capacity of Ma'anshan Project is 1,200 tonnes, and it will be built in two phases. The Project Phase I is designed to have a daily waste processing capacity of 800 tonnes, with a total investment of approximately RMB450 million. Its gas emission will comply with the Euro 2000 Standard. The concession period of the Project is 30 years and it is expected to generate approximately 100 million kWh of green electricity each year. Ma'anshan Project is located approximately 20 km from Nanjing Waste-to-energy Project, so the two plants can take advantage of their synergy and proximity to help save construction and operation management costs.
Mr. Chen Xiaoping, CEO of Everbright International, said, "We are very delighted to secure the Ma'anshan Project and look forward to cooperating with Ma'anshan Urban Investment Group. Upon completion, Ma'anshan Project, which represents a landmark project demonstrating the Group's new involvement in inland cities following its previous work in coastal cities, will have an organic connection with the Group's biomass power generation projects in Dangshan and Hanshan, Anhui Province and further consolidate the Group's market position in this province. The Group will introduce advanced technology and strong management experience to the Project to optimize and enhance its operations and production efficiency, and make it a model demonstration project through our consistent high standards to achieve the goals to create an optimum economic and social environment. At the same time, we will reinforce the Group's brand influence in Anhui Province and contribute to the local society and environmental protection efforts."