17 Aug 2009
Everbright International Commences Construction of Phase II and Upgrading of Phase I of Jiangyin waste-to-energy projectChina Everbright International Limited ("Everbright International" or the "Company") has signed a supplementary concession agreement with the Jiangyin Construction Bureau in Jiangsu Province to start building Phase II of the Jiangyin waste-to-energy project ("Jiangyin Project Phase II") and upgrading phase I of the Jiangyin Project ("Jiangyin Project Phase I"). The total investment is about RMB205,000,000 and will take 17 months to complete.
Jiangyin Project Phase II will be invested and constructed on BOT (Build-Operate-Transfer) basis. The designed processing capacity is 400 tonnes of waste per day. It will have a waste incinerator with a daily processing capacity of 400 tonnes and a 12,000 kilo-watt generator. Construction of the Jiangyin Project Phase II by using self-improved incinerator and applying straw burning technology has a long-term strategic importance for the future development of the Company's environmental protection business.
Everbright International secured the Jiangyin Project Phase I in January 2006 and invested and built on BOT basis at a total investment of approximately RMB388,740,000. The designed capacity of Jiangyin Project Phase I is 800 tonnes of waste per day. Commenced commercial operation in May 2008, Phase I of the project has been operating smoothly at full capacity, meeting all required environmental protection standards.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "The Jiangyin waste-to-energy project is a major waste-to-energy project of Everbright International in Jiangsu Province. Phase I of the project has been running smoothly and is serving as a model project in Jiangyin City. As for the construction of Phase II, it will share part of public facilities and management operation team of Phase I, meaning the project will enjoy economies of scale and post economic and social benefits."