24 Oct 2018
Everbright International Secures Tianjin Xiqing Household Waste Integrated Treatment Plant PPP Project
Hong Kong, 24 October 2018 – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has recently secured Tianjin Xiqing Household Waste Integrated Treatment Plant PPP Project ("Xiqing Project"). Xiqing Project comprises Xiqing Waste-to-energy Project (including a fly ash landfill facility and a leachate treatment station), Xiqing Food Waste Treatment Project and Xiqing Fecal Treatment Project, commanding a total investment of approximately RMB2.197 billion.
Located in Tianjin Xiqing Veinous Industrial Park and with a concession period of 30 years (construction period inclusive), Xiqing Project will be invested in, constructed and operated based on a BOOT (Build-Own-Operate-Transfer) model, which is under the PPP (Public-private Partnership) model, by a project company jointly established by Everbright International and a company representing the Xiqing District Government of Tianjin Municipality. Everbright International holds a 90% stake in the project company. Xiqing Project is mainly responsible for processing all household waste from the Jinnan, Nankai, Hexi and Heping districts, as well as some waste from Xiqing District and Binhai New Area, in the city.
Xiqing Waste-to-energy Project, which will be constructed in two phases, has a total designed daily household waste processing capacity of 3,000 tonnes. With an investment of approximately RMB1.877 billion, phase I of the project has a designed daily household waste processing capacity of 2,250 tonnes, and is expected to generate green electricity of 246,375,000 kWh annually. The project will be equipped with three 750 tonnes/day mechanical grate furnaces and two sets of 30MW turbine power generators. Its gas emissions will fully comply with relevant national standards, with the daily average level of online monitored gas emissions superior to the Euro 2010 Standard.
In addition, Xiqing Waste-to-energy Project will be equipped with a fly ash landfill facility and a leachate treatment station. Fly ash generated from the waste incineration process will be stabilised and then sent to the landfill site for disposal. Phase I of the landfill facility has a total landfill capacity of 1,030,000 m3, with an effective capacity of 720,000 m3. Phase I of the leachate treatment station has a designed daily leachate treatment capacity of 1,500 m3. Both facilities will be constructed in parallel with phase I of Xiqing Waste-to-energy Project.
Xiqing Food Waste Treatment Project, which commands an investment of RMB110 million, has a total designed daily food waste processing capacity of 200 tonnes. It will be responsible for the treatment of food residues, waste edible oils from animals and plants and kitchen waste generated by catering companies within Xiqing Project's service areas. The food waste treatment project will be constructed in parallel with phase I of Xiqing Waste-to-energy Project.
With an investment of RMB210 million, Xiqing Fecal Treatment project has a designed daily fecal treatment capacity of 300 tonnes. It will be responsible for the treatment of fecal from public toilets, plants and the residential areas, and also mixture in septic wells of the residential areas, within Xiqing Project's service areas. The fecal treatment project will be constructed in parallel with phase I of Xiqing Waste-to-energy Project.
Mr. Wang Tianyi, CEO of Everbright International, said, "The winning of the bid for Xiqing Project with a leading score in the overall bidding process further demonstrates Everbright International's strong social influence and its capability in business investment and development. As the Group's first veinous industrial park project in a Chinese municipality, Xiqing Project will be able to provide more comprehensive services to Tianjin's environmental protection market. The project will effectively reach the Beijing-Tianjin-Hebei region by leveraging its geographical advantages, laying a solid foundation for the Group to expand the surrounding markets. Next, the Group will adhere to its construction philosophy of ‘Producing Quality Projects and Building a Quality Brand', proactively implement preparatory work relating to the project, and make steady progress of the project construction works, in an effort to develop Xiqing Project into a national benchmark project. The Group will make full use of its experience and advantages in the ecological and environmental protection sector, with an aim of supporting the ecological and environmental protection and the synergetic development of the Beijing-Tianjin-Hebei region."
In response to the global stock market turmoil, Mr. Wang Tianyi emphasised that, "China's ecological and environmental protection sector has entered into an era in which the development of enterprises are supported by relevant national policies and strong players are driving out the weak. Outstanding enterprises with excellent development philosophies and strong abilities in investment and management will embrace more and better opportunities for growth. Everbright International recently completed a HKD10 billion rights issue successfully. In addition to its strong fundraising ability and its influence in terms of the business quality and brand image, the Group is confident to navigate volatile market and make further improvement. To now, the Group's market expansion results have hit a new record high, with a number of projects commencing construction or operation in succession. By upholding its corporate mission of being ‘Devoted to the Ecology and Environment for a Beautiful China' and adhering to its corporate philosophy of ‘Creating More Business Value and Undertake More Social Responsibility', Everbright International will unswervingly pursue high-quality development and sustainability so as to contribute to the ecology and environment and create value for its investors."