China Everbright International Limited has signed a letter of intent with Zhejiang Hanzhou Urban Construction & Investment Group Co. Ltd. and Zhejiang Hangzhou Yuhang City Construction Group Co. Ltd. to establish a project company for the investment, construction and operation of a waste-to-energy project in Yuhang District of Hangzhou, Zhejiang, China.
According to the letter of intent, Everbright International will hold equity interest of 70% in the Project Company, while Hangzhou Urban Investment and Yuhang City Construction will hold equity interest of 20% and 10% respectively.
Yuhang Project has a designed total daily household waste processing capacity of 3,000 tonnes and its gas emission will comply with the Euro 2000 Standard.
Mr. Chen Xiaoping, CEO of Everbright International, stated:
The signing of the letter of intent further intensified the impact of Everbright International in Zhejiang province as an environmental protection brand. With its extensive experiences in project investment and operating management, the Group will bring its successful operations from Jiangsu province to its neighboring province of Zhejiang, and spare no effort to contribute to more areas in Zhejiang province in terms of social benefits and environmental protection.
China Everbright International Limited recently signed a concession agreement with the government of Pei County in Xuzhou of Jiangsu Province (China), for the investment, construction and operation of Pei County Household Waste-to-energy PPP project. In addition, the group signed a concession agreement with the government of Beilun District in Ningbo of Zhejiang Province (China), for the expansion of Ningbo Beilun Waste-to-energy PPP project Phase II.