Everbright International wins waste BOT project in China

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Everbright International wins waste BOT project in China

China Everbright International Limited announced on January 2nd, 2014, that it has won a bid for a waste-to-energy project in Ma'anshan City of Anhui Province, east China.

Everbright International will set up a joint venture company with Ma'anshan Urban Development Investment Group Co., Ltd. for the construction of the project on a BOT (Build-Operate-Transfer) basis, and both parties will own a 50% equity interest in the venture. The Ma'anshan Project is the first waste-to-energy project of Everbright International in Anhui Province.

Ma'anshan is the municipal city near Nanjing and a major industrial city in Anhui Province. It enjoys an important location in Wanjiang Economic Zone with excellent resources. The total daily waste processing capacity of Ma'anshan Project is 1,200 tonnes, and it will be built in two phases. The Project Phase I is designed to have a daily waste processing capacity of 800 tonnes, with a total investment of approximately RMB450 million (US$74.3 million). Its gas emission will comply with the Euro 2000 Standard.

The concession period of the project is 30 years and it is expected to generate approximately 100 million kWh of green electricity each year. Ma'anshan Project is located approximately 20 km from Nanjing Waste-to-Energy Project also operated by China Everbright, so the two plants can take advantage of their synergy and proximity to help save construction and operation management costs.

Mr. Chen Xiaoping, CEO of Everbright International, said:

"We are very delighted to secure the Ma'anshan Project and look forward to cooperating with Ma'anshan Urban Investment Group. Upon completion, Ma'anshan Project, which represents a landmark project demonstrating China Everbright's new involvement in inland cities following its previous work in coastal cities, will have an organic connection with the Group's biomass power generation projects in Dangshan and Hanshan, Anhui Province and further consolidate China Everbright's market position in this province. China Everbright will introduce advanced technology and strong management experience to the project to optimize and enhance its operations and production efficiency, and make it a model demonstration project through our consistent high standards to achieve the goals to create an optimum economic and social environment. At the same time, we will reinforce China Everbright's brand influence in Anhui Province and contribute to the local society and environmental protection efforts."

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