15 Oct 2013
Everbright International Invests in Constructing Changzhou Equipment Manufacturing Project Phase II
To Further Extend Mid- and Upstream Industry Chain and Increase the Operating Efficiency of Waste-to-energy ProjectsOctober 15, 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that its subsidiary Everbright Environmental Protection Equipment Manufacturing (Changzhou) Limited has entered into an investment agreement with the People's Government of Yaoguan Town, Wujin District, Changzhou City of Jiangsu Province to construct the Everbright Environmental Protection Equipment Manufacturing Project Phase II ("Equipment Manufacturing Project Phase II"). The total investment will be approximately USD 20 million (RMB 122 million).
Everbright Environmental Protection Equipment Manufacturing Project Phase I commenced commercial operation in September 2012, providing grate furnaces, automatic control systems, leachate systems and other major equipment for the waste-to-energy projects of the Group. It also provides outsource waste-to-energy project consulting services. The total investment of Phase I was RMB 89 million.
As the Group's environmental protection business continues to grow, Everbright International will commence the construction of Equipment Manufacturing Project Phase II. It will include the construction of manufacturing plant, R&D building and technical test centre etc., in order to establish an integrated base for the research and development, design and manufacturing of waste incinerators; design, manufacturing, equipment assembly and construction of household waste leachate treatment systems; development, equipment manufacturing and assembly as well as engineering of flue gas purification systems. By now, the self-developed grate furnaces by the Group have been used in waste-to-energy projects in Zhenjiang, Jiangyin, and Suzhou, and they are operating nicely under international standards. As the self-developed equipment is more suitable for processing solid waste incineration in mainland, the operating efficiency of the Group's waste-to-energy projects is vastly enhanced.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Environmental protection equipment manufacturing is a relatively new business segment for the Group. The business is making steady progress and delivering encouraging results in with our effort in proprietary research and active innovation. The investment in Changzhou Equipment Manufacturing Project Phase II does not only signify another solid step forward for Everbright International as we tap into the mid- and upstream environmental protection market, but will also create synergy for the development of the Group's environmental energy business. The Everbright Equipment Manufacturing Centre is an important part of the Group's overall development strategy. We believe that the Group's core competitiveness will be further strengthened as our environmental protection equipment manufacturing business continues to progress in a vibrant market environment."