01 Apr 2014
Everbright International Secures Jiangsu Xuyi County Biomass Integrated Utilisation Project
A New Direction for the Biomass Utilisation Industry1 April 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed an investment agreement with the People's Government of Xuyi County, Jiangsu Province, to invest in, construct and operate an agricultural waste integrated utilisation and central heating project ("Xuyi Project" or the "Project") in the Xuyi Economic Development Zone.
Xuyi Project will use a biomass pellet fuel manufacturing plant to convert agricultural waste and straw into pellet fuel, and a heat source plant for central heating, which will use the fuel to produce heat and steam for the Xuyi Economic Development Zone. The total investment of the Project will be approximately RMB 170 million.
The Project will adopt advanced biomass central heating and gas treatment technology, and install three 45t/h furnaces. The gas emission standard will be higher than the Emission Standard of Air Pollutants for Coal--Burning Oil-burning Gas-fired Boilers. The annual agricultural waste and straw processing capacity is approximately 150,000 tonnes, and the operating period is 30 years.
Xuyi Project will use the "Pellet Fuel & Central Heating" model to effectively solve three nationwide problems, including the prohibition of straw burning, dispersed supply of heating, and coal-fired boilers, so it can convert waste into usable energy and help curb air pollution. In addition, it will act as a showcase project for the collection-storage-transportation system of agricultural waste and straw, which will help to limit environmental pollution caused by traditional straw burning methods and show farmers a new way of disposing of their unwanted straw. There will be a large market demand for Xuyi Project due to current controls on air pollution implemented by the central government, and the Project will provide the Group with a new direction for development in the biomass integrated utilisation industry.