03 Jul 2018
Everbright Greentech Secures Two Environmental Remediation Projects, Marking a New Business Breakthrough
3 July 2018, Hong Kong - China Everbright Greentech Limited ("Everbright Greentech" or the "Company") (HKSE: 1257) is pleased to announce that the Company has recently secured two environmental remediation projects, marking a breakthrough in its business scope. The total contract value of the two projects amounts to approximately RMB48.18 million.
The Company's first environmental remediation project commands a contract value of approximately RMB26 million, with its remediation services covering a total of approximately 74,000 m2 polluted areas. The remediation services will involve two parts: i) site surveys and technical support for risk assessment; and ii) remediation engineering services, with contract values of approximately RMB6.14 million and RMB19.86 million respectively.
Separately, the Company won the bid for Integrated Remediation of Chonggang Household Waste Landfill Project in Sihong County of Suqian City in Jiangsu Province, with a contract value of approximately RMB22.18 million.
Everbright Greentech established its environmental remediation management center last year to develop environmental remediation business in China. With the roll-out of policies such as the ‘Action Plan for Soil Pollution Prevention and Control' underscoring a strong demand in the domestic environmental remediation market, the Company will further tap into this sector as a key business area.
Mr. WANG Tianyi, CEO of China Everbright International Limited and Chairman of Everbright Greentech, said, "The report delivered at the 19th National Congress of the Communist Party of China included ecological conservation as one of the ‘two centennial goals' for the national rejuvenation, attaching great importance to ‘the establishment and implementation of the concept that lucid waters and lush mountains are invaluable assets'. China's environmental remediation sector is in an infancy stage with huge potential for growth. Given that key national strategies and policies create market opportunities and contribute to enterprises' growth, it is of great significance that we have made a breakthrough in the environmental remediation sector. Going forward, we will continue to extend our business chain and broaden our business scope through technological advancement, as we aim to fulfill our corporate mission and responsibility of being ‘Devoted to Ecology and Environment for a Beautiful China', through a different array of environmental protection practices."