16 Jun 2014
Everbright International Secures Two Biomass Integrated Utilisation Projects in Suqian and Lianyungang in Jiangsu
Seize the Market Opportunities to Develop a New Business Segment in Biomass Energy16 June 2014, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed two investment agreements with the People's Governments of Sucheng District of Suqian City and Guanyun County of Lianyungang City in Jiangsu Province, to invest in, construct and operate agricultural biomass utilisation and central heating projects ("Sucheng Project" or "Guanyun Project") in Sucheng District and Guanyun County.
Sucheng Project will use a biomass pellet fuel manufacturing plant to convert agricultural waste and straw into pellet fuel, and a heat source plant which will use the pellet fuel to produce heat and steam for the Sucheng Economic Development Zone and the Suzhou & Suqian Industrial Park. The total investment of Sucheng Project will be approximately RMB170 million. Sucheng Project will adopt advanced biomass central heating and gas treatment technology, equipped with 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 will be approximately 120,000 tonnes.
Guanyun Project will follow the same model to produce central heating for the Guanyun Economic Development Zone, with a total investment of approximately RMB180 million. Guanyun Project will also adopt advanced biomass central heating and gas treatment technology, equipped with 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, and the annual agricultural waste and straw processing capacity will be approximately 150,000 tonnes.
Mr. Chen Xiaoping, CEO of Everbright International, said, "After securing the first biomass integrated utilisation project in Jiangsu Xuyi County early this year, the Group has now developed three biomass industrial utilisation projects in Jiangsu Province using the 'Pellet Fuel & Central Heating' business model. This type of project provides an effective solution to simultaneously address the problems which arise from the nationwide prohibition of straw burning and the lack of heat supply in development zones, by converting waste into usable energy and helping to mitigate air pollution. The industrial utilisation of straw in China is an innovative method which helps to boost the local economy and energy production, reduce emissions and thus improve the environment, increase the efficiency of agricultural production, raise incomes of farming households, create jobs, and strengthen the local government's credibility. In addition, there is a large market demand and development space for biomass integrated utilisation projects due to current controls on air pollution implemented by the central government. Everbright International will seize the opportunities in this field. With our abundant experience and technical strength in the environmental protection industry, plus the highest construction and operation standards, the Group will ensure the plants in Sucheng District and Guanyun County are model projects which not only have economic and social benefits, but also contribute to people's welfare and environmental protection."