Hong Kong based environmental services firm, China Everbright International (HKSE: 00257) has signed an investment agreement with Xinyi Municipal People’s Government of Jiangsu Province to invest in and construct the Xinyi Hazardous Waste Landfill Project.
According to the company the Xinyi Project will be constructed and operated on a BOO (Build-Operate-Own) basis with a total investment of approximately RMB241 million ($37.25 million) .
The landfill will have a designed capacity of 600,000 m3 and a designed annual hazardous waste processing capacity of 20,000 tonnes, and will be constructed in two phases.
Everbright said that the designed landfill capacity and annual hazardous waste processing capacity of Project Phase I are expected to reach 300,000 m3 and 10,000 tonnes respectively, with a total investment of approximately RMB166 million ($25.7 million).
In addition, the company said that it is pushing forward with cooperation on environmental protection and energy conservation with the Xinyi Government. In this regard a framework agreement to invest in an environmental protection industrial park, with an expected total investment of RMB1.2 billion ($185 million) has been signed.
Everbright said that it will leverage Xinyi Government's plans in the environmental protection and alternative energy industries to construct various environmental protection projects, including industrial solid waste treatment, urban-rural integration, medical waste treatment, food waste treatment, sludge treatment, alternative energy and environmental protection technology R&D center, etc..
"Everbright International will foster the growth of the environmental protection industry across China with its advanced technology and state-of-the-art management system,” commented Mr. Chen Xiaoping, CEO of Everbright International.
“The signing of the hazardous waste landfill project and the cooperation on the environmental protection industrial park by both parties will enable the Group to capitalise on this growing sector and to help building a comprehensive environmental protection industry chain in Xinyi City," he concluded.
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