China Everbright International Limited (HKSE: 00257) has signed a RMB 650 million ($95 million) concession agreement for a household waste to energy project with the People's Government of Leshan City in Sichuan Province,to develop the Leshan waste to energy Project.
The Leshan Project is jointly invested by Everbright International and Leshan state-owned assets management company, with Everbright International holding a 90% equity stake.
The company explained that the project will be invested and constructed on a BOT (Build-Operate-Transfer) model for a concession period of 30 years.
The plant has a designed daily household waste processing capacity of 1000 tonnes, and is expected to generate 128,740 MWh of electricity annually with emissions to 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 and the Leshan Giant Buddha (pictured). According to Everbirght, 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 eyecatching scenery.
However, the company said that 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.
"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',” commented Mr. Chen Xiaoping, CEO of Everbright International.
“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,” he added.
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