24 Jun 2016
Everbright International Obtains RMB93.5 Million Subsidy from NDRC24 June 2016, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has obtained a subsidy of RMB93.5 million under the 2016 Central Budgetary Investment Plan, which is jointly organized by the National Development and Reform Commission ("NDRC"), the Ministry of Finance and other national ministries. From the subsidy obtained, RMB73.5 million and RMB20 million were allocated to the construction of the Group's Tengzhou Waste-to-energy Project ("Tengzhou Project") Phase I in Shandong Province and Hangzhou Waste-to-energy Project ("Hangzhou Project") in Zhejiang Province, respectively.
Tengzhou Project has a designed daily household waste processing capacity of 1,050 tonne. Phase I of the project, with a designed daily waste processing capacity of 700 tonnes, will be equipped with two 350t/d mechanical grate furnaces and one 12MW power generator. Phase I commenced construction in October 2015 and is scheduled to start operation in 2017.
Hangzhou Project has a designed daily household waste processing capacity of 3,000 tonnes. It will be equipped with four 750t/d mechanical grate furnaces, two 35MW power generators and two 40MW power generators. Construction of the project is making smooth progress and is expected to be completed in 2017.
In addition, Yiyang Waste-to-energy Project, the first waste-to-energy project that Everbright International has invested and constructed in Hunan Province, has completed construction and commenced operation. The total investment of the project is approximately RMB372 million, with a designed daily household waste processing capacity of 800 tonnes. Its gas emissions fully comply with the Euro 2010 Standard and it is expected to generate more than 90,000,000 kWh of green electricity per annum.