23 Oct 2014
Everbright International Secures Jiangsu Rudong Biomass Integrated Utilization Project23 October 2014, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed an investment agreement with the People's Government of Rudong County in Nantong City, Jiangsu Province, for the investment, construction and operation of an agricultural waste and straw integrated utilization project in Rudong County ("Rudong Project" or "the Project"). The Project is the 7th biomass integrated utilization project Everbright International has secured in 2014.
The total investment of Rudong Project is approximately RMB90 million. The Project will include 29 agricultural waste and straw processing plants and will be constructed in several phases. It will convert agricultural waste and straw in Rudong County and the surrounding areas into pellet fuel, providing substitute fuel to replace coal for nearby manufacturing enterprises. The Project will have an annual agricultural waste and straw processing capacity of approximately 130,000 tonnes, with an operation period of 30 years.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The standardized treatment of agricultural waste and straw will advance the development of the rural economy and increase both agricultural earnings and farmers' income as well as curb environmental pollution caused by traditional straw burning method. Rudong Project will establish an effective collection-storage-transportation processing system of agricultural straw in Rudong County and the surrounding areas, generating mutual benefits for local farmers and boosting the development of the low-carbon economy so as to achieve an optimal economic and social impact."