30 May 2019
Everbright International Acquires Yulin Waste-to-energy Project in Guangxi Zhuang Autonomous Region
30 May 2019, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 257) is pleased to announce that the Group has recently secured Yulin Waste-to-energy Project ("Yulin Project") in Guangxi Zhuang Autonomous Region ("Guangxi") through acquisition, which commands an investment of approximately RMB569 million (the consideration for the acquisition inclusive).
With a concession period of 30 years, Yulin Project has a total designed daily household waste processing capacity of 1,200 tonnes, and will be constructed in two phases. Phase I of the project has a designed daily household waste processing capacity of 800 tonnes. It will be equipped with two 400 tonnes/day mechanical grate furnaces and two 15 MW steam turbine power generators. It is expected to generate on-grid electricity of approximately 111 million kWh annually. The 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.
Yulin Project is the first waste-to-energy project that Everbright International has ever secured in Guangxi, which marks a new breakthrough for the Group’s business presence. This also helps further enhance the Group’s leading position in the waste-to-energy industry. Yulin City has a superior geographic location, as it is located in the southeast of Guangxi, adjacent to the Guangdong-Hong Kong-Macau area and close to the Gulf of Tonkin. In the meantime, the city lies in the intersection between the economic zones in South China and the Great Southwest China, and is also a gateway that connects Guangxi with the Pan-Pearl River Delta Area and Pan-Tonkin Gulf Area. In recent years, Yulin City’s economic size and pace of development both rank among the top in the province. With the economic prosperity, the amount of local household waste has increased accordingly. As a result, the harmless treatment, reduction and reuse of waste will effectively facilitate the improvement of Yulin’s ecological environment, assisting the city to go green.
Mr. Wang Tianyi, CEO of Everbright International, said, "Yulin Project is the first solid waste treatment project invested and constructed by Everbright International in Guangxi, following the Group’s first water treatment project Nanning Shuitang River Integrated Treatment PPP Project, which is under smooth construction. Securing Yulin Project shows the Group’s strong brand influence, as well as the support and trust from the local government and residents."
Mr. Wang Tianyi emphasised, "Everbright International will adhere to its corporate mission of being 'Devoted to Ecology and Environment for a Beautiful China', and develop Yulin Project into a benchmark project. The Group will strive to promote waste sorting and reduction from the sources locally, with an aim of contributing to the ecological progress in the Yulin area. Furthermore, Everbright International will leverage on this project to accelerate its expansion of the environmental protection market in Guangxi, and strive to achieve better environmental, economic and social benefits."