Hong Kong based China Everbright International (SEHK: 257), which develops environmental service infrastructure, has secured RMB30 million ($4.9 million) subsidy for Phase III of its Suzhou Waste to Energy Project.
Phase III of the project is a 1500 tonne per day waste to energy plant that was completed in January this year, bringing total capacity at the Suzhou facility to over 3500 tonnes per day.
In total the three phase project is estimated to represent an investment of around RMB750 million ($122 million).
According to China Everbright it has secured the subsidy for Phase III of the project as part of the government’s 2013 Central Budgetary Investment Plan, which is jointly organised by the National Development and Reform Commission (NDRC), the Ministry of Finance and other national ministries.
“In order to accelerate the construction of facilities for waste water treatment projects and waste processing projects in urban and rural areas and to effectively protect and improve the environment, the NDRC allocated special funds for waste water treatment projects and construction of recycling facilities and the non-hazardous waste treatment facilities in urban and rural areas under the scheme of the “2013 Central Budgetary Investment Plan,” explained Chen Xiaoping, chief executive officer of Everbright International.
According to Xiaoping this is the fourth subsidy obtained by the Group from the NDRC, following the subsidies granted to our Jiangsu Zhenjiang waste to energy Project, Suqian waste to energy Project and Changzhou Equipment Manufacturing Project in 2012.
The company added that Suzhou is the largest waste to energy project to date in China and will help Suzhou towards its zero waste to landfill objective.
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