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China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has signed a concession agreement for a household waste-to-energy project with the People's Government of Leshan City in Sichuan Province, to invest and construct the Leshan Waste-to-energy Project ("Leshan Project"), with a total investment of approximately RMB650 million.
Leshan Project is jointly invested by Everbright International and
Leshan State-owned Assets Management Company, with Everbright
International holding a 90% equity stake. The project will be invested
and constructed on a BOT (Build-Operate-Transfer) model for a concession
period of 30 years. It has a designed daily household waste processing
capacity of 1,000 tonnes, and is expected to generate 128,740,000 kWh of
green electricity annually. Its gas emissions will fully comply with
the Euro 2010 Standard.
Leshan, a city located in the south-western part of Sichuan Province, is famous for its abundant natural resources. As a national historical and cultural attraction, and an excellent tourist destination in China, Leshan has been a jewel in Sichuan's crown for its breathtaking scenery. Since the development of the local economy and rise in tourism produce more household waste, there is an increasing need for more environmental protection infrastructures and better management.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Leshan Project is Everbright International's fifth waste-to-energy project in Sichuan Province, and forms part of the Group's development strategy of ‘Expanding from Coastal to Inland Areas'. As always, we will ensure to adhere to high standards and high quality for the design, operations and management of the project, and will establish the project as a pilot waste-to-energy project in the south-western of China. In doing so, the Group will help the city to harmlessly treat, reduce and reuse domestic household waste, and will help improve the local ecological environment, which will contribute to Leshan's long-term healthy development."
© 2016 China Everbright International Limited
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