26 Sep 2016
Everbright International's Project Construction Progressing Steadily 14 Projects Commenced Construction in the Third Quarter26 September 2016, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group commenced the construction of 14 projects in the third quarter of 2016, with a total investment exceeding RMB3.8 billion. The construction of all of the projects is progressing well and on schedule.
In the environmental energy segment, 5 waste-to-energy projects and a food waste treatment project commenced construction, namely Henan Xinzheng Waste-to-energy Project, Henan Lankao Waste-to-energy Project, Shandong Zoucheng Waste-to-energy Project, Shandong Ju County Waste-to-energy Project, Hunan Yongzhou Waste-to-energy Project and Jiangsu Suqian Food Waste Treatment Project. These 5 newly constructed waste-to-energy projects are designed to have a daily waste processing capacity of 3,300 tonnes and are expected to generate over 360,000,000 kWh of green electricity annually. To date, the Group has a total of 19 environmental energy projects under construction.
In the environmental water segment, Jiangsu Xinyi City Waste Water Treatment TOT (Transfer-Operate-Transfer) Project has been successfully transferred and started the upgrading work. Following the expected completion of upgrading in 2017, the water discharge of the project will be upgraded from a National Grade 1B standard to a National Grade 1A standard.
In the greentech segment, there are 6 biomass projects and a hazardous waste treatment project that have commenced construction, namely Rugao Biomass Direct Combustion Project, Guanyun Integrated Biomass and Waste-to-energy Project (Biomass), Guanyun Integrated Biomass and Waste-to-energy Project (Waste-to-energy), Fengyang Integrated Biomass and Waste-to-energy Project (Biomass), Fengyang Integrated Biomass and Waste-to-energy Project (Waste-to-energy), Mianzhu Integrated Biomass and Waste-to-energy Project (Biomass), and Lianyungang Hazardous Waste Incineration Project (Phase II). Currently, the Group has a total of 16 biomass projects under construction. Some of these projects are expected to be completed and commence operation in the second half of this year.
Mr. Chen Xiaoping, CEO of Everbright International said, "We have seen increasing demand for environmental management services from local governments in China and their environmental assessment standards become stricter. Higher environmental assessment standards improve market segmentation, which provides both new opportunities and challenges for Everbright International. With 14 projects commencing construction in succession, the above three business segments now have a total of 41 projects under construction, which not only demonstrate the Group's steady foundation for development, but will also generate new areas of business growth for the Group in the future. Everbright International is committed to building high quality pilot projects, which help to serve the economic development of local areas. We aim to deliver the projects under construction as planned and on schedule in a stable and pragmatic manner. In doing so, the Group will maximize its contribution to the ecological environment in the areas in which the projects operate."