China Everbright International acquires food waste treatment project in Sanya
An equity transfer agreement between CEI and two independent third parties has resulted in the acquisition of an 80% stake in the Sanya Food Waste Treatment Project, with a value of RMB37.4 million. Once the acquisition has been completed, CEI will conduct a comprehensive upgrade on the project.
CEI is a Hong Kong incorporated company which specialises in environmental resource management in mainland China.
The Sanya Food Waste Treatment Project is intended to function alongside CEI’s waste-to-energy pfacility in the Hainan Island city. Aiming for a daily food waste processing capacity of 150 tonnes, the first phase of the project has already achieved a processing capacity of 100 tonnes.
CEI’s upgrades are intended to enhance the project’s efficiency and discharge standards. Energy and steam generated from the waste to energy project will lower the operating costs of the food waste project. Residue from the food waste project will be delivered for processing in the waste to energy project.
Mr. Chen Xiaoping, CEO of Everbright International, said in a press release: "The Sanya Food Waste Treatment Project is Everbright International's third food waste treatment project. By developing a future synergy with the Sanya Waste-to-energy Project, the acquisition will improve the project's overall profits and enrich the Sanya Environmental Protection Industrial Park. In order to live up to the long-standing trust the Sanya Municipal Government and the local residents have placed in Everbright International, the Group will continue to follow its ethos of "High Standards, First-class Quality and Outstanding Efficiency" during the integration and upgrading of the project, and will develop it into a demonstration food waste treatment project in the city and for the entire Hainan Province."