27 Jun 2018
Everbright International Secures Two Food Waste Treatment Projects
27 June 2018, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has recently secured Haiyan Food Waste Treatment Project ("Haiyan Food Waste Project") Phase I in Zhejiang Province and Ma'anshan Food Waste Treatment Project ("Ma'anshan Food Waste Project") in Anhui Province, which command a total investment of approximately RMB215 million.
Haiyan Food Waste Project will be constructed in two phases, with a total designed daily food waste processing capacity of 150 tonnes. Specifically, the project phase I commands an investment of approximately RMB65 million, with a designed daily food waste processing capacity of 75 tonnes. The project will be invested and constructed on a BOT (Build-Operate-Transfer) model for a concession period of 30 years (construction period inclusive). Everbright Environmental Energy (Haiyan) Co., Ltd. (光大環保能源(海鹽)有限公司) will be responsible for the investment, construction, operation and maintenance of the project. The odor and residues produced from Haiyan Food Waste Project will be transported to Haiyan Waste-to-energy Project of the Group for incineration, while the methane produced at the food waste project will be transported to the waste-to-energy project for incineration to generate electricity. This helps to achieve a high level of synergy between the two projects.
Ma'anshan Food Waste Project, which commands an investment of approximately RMB150 million, has a designed daily food waste processing capacity of 200 tonnes. The project will be invested and constructed on a BOT model for a concession period of no less than 30 years. Located in the neighborhood of the Group's Ma'anshan Waste-to-energy Project, Ma'anshan Food Waste Project will transport the odor and residues produced from its food waste treatment process to Ma'anshan Waste-to-energy Project for incineration, while the methane produced from the food waste project will be transported to the waste-to-energy project and incinerated for power generation. This will allow the two projects to deliver a high level of synergy, share resources and save on operating costs.
Mr. Wang Tianyi, CEO of Everbright International, said, "The Strategic Emerging Industry Key Product and Service Guidance Catalog (2016), which was released in 2017 by the National Development and Reform Commission, has added technologies and equipment relating to the ‘harmless treatment and reuse of food waste' into the category of ‘resource recycling industries'. Benefiting from the said national policy, the food waste treatment industry is primed to grasp immense market potential. Everbright International has eight food waste treatment projects in total, with a combined designed daily food waste processing capacity of 1,000 tonnes. These projects will fully integrate with the Group's waste-to-energy projects nearby, with a view to creating synergetic effects. Additionally, by leveraging the Group's self-developed technologies, these projects will be able to process waste more efficiently and to operate more stably."
Mr. Wang Tianyi added: "Everbright International is committed to fulfilling its corporate mission of being ‘Devoted to Ecology and Environment for a Beautiful China' and upholding its construction philosophy of ‘Producing Quality Projects and Building a Quality Brand', with an aim of developing Haiyan Food Waste Project and Ma'anshan Food Waste Project into quality benchmark projects of high standards. This coincides with our dedication to building environmental-friendly livelihood demonstration projects that bring confidence and assurance to the local residents and governments."