17 Sep 2009
Everbright International and Jiangyin Municipal Government Sign Cooperative Framework Agreement
Promotes Development of Environmental Protection Business in Jiangyin at Full ForceChina Everbright International Limited ("Everbright International" or "the Group") announced that it has signed a cooperative framework agreement (the "Framework Agreement") with the Jiangyin Municipal Government, Jiangsu Province in relation to the development of new energy and new materials.
According to the Framework Agreement, Everbright International will be responsible for development of water recycling, new energy (including solar energy, wind power, bio-mass), new materials, investment in and construction of rural waste water treatment facilities and integration of waste water treatment facilities in Jiangyin city. In addition, the Company will also provide consultation service to the Jiangyin Municipal Government on urban environmental planning and execution, development of new energy and a recycling economy, etc.
Jiangyin city is the key strategic partner area and major market of Everbright International. The Company has invested in a number of green energy projects in the city including the Jiangyin Waste-to-energy project Phase I and II, Jiangyin Waste Water Treatment Plants and Sewage Piping Network, etc., commanding a total investment of RMB1.2 billion. The 4 waste water treatment plants process 190,000 tonnes of waste water per day. Jiangyin Waste-to-energy Project Phase I has a designed daily household waste processing capacity of 800 tonnes, capable of supplying on-grid electricity of 77,000,000 kWh a year while Phase II of the project, which is under preparation, has a designed daily household waste processing capacity of 400 tonnes per day and the commercial operation is expected to start in 2011.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Sharing the principle of "mutual support, win-win, and growth", Everbright International will consolidate its existing waste-to-energy, urban waste water treatment and sewage piping network projects and further expand its cooperation with the Jiangyin Municipal Government on all fronts of environmental protection and new energy field. The Group has made Jiangyin city its major strategic cooperative region and key market to develop and will increase its investment in the city to aid its urban environmental management, new energy development and continual economic development, thus contribute to the balanced and fast development of the economy, the society and the urban environment of the city.
The signing of the Framework Agreement with the Jiangyin Municipal Government proves the recognition of the local authorities the contribution made by the Company to environmental protection in the city in recent years. The Company will further develop its environmental protection projects in Jiangyin city at full strength aiming for wider and deeper reach. We will work hard to build the cooperative projects in Jiangyin city into models for promoting to other regions so as to achieve economies of scale and develop a more complete environmental protection industrial chain."