IFC commits up to $200 million to IFC Emerging Asia Fund with investors from Fiji and Korea

IFC, a member of the World Bank Group, has committed up to US$200 million to the IFC Emerging Asia Fund (EAF), which has reached a first close. IFC is joined by the Korea Development Bank (KDB) and the Fiji National Provident Fund (FNPF). Central to the EAF is mobilizing additional capital in emerging markets of the Asia region, given the scale of investment, innovation, technological development and employment creation required for sustainable development in many low and middle income countries in the region falls beyond the range of the public sector, making the private sector central to finding and financing the development solutions that are needed.   Investments by the EAF will be aligned to IFC’s strategy for the region, which includes a focus on addressing the infrastructure deficit, and at the same time it will also help investee companies raise standards, improve risk mitigation and generate value.   The new global architecture for international development, the Sustainable Development Goals, launched at the United Nations in 2015, highlights that financing sustainable development requires low and middle income countries tap new sources of capital from both private and public sources, including leveraging global private capital to most skillful effect. Two thirds of the world’s poorest people live in emerging Asia and yet it is the engine room of global growth being the fastest growing region and the largest continental economy by GDP in the world. This growth is a function of favorable dynamics such as the continued need for enhanced infrastructure, the emergence of a rapidly growing middle class and commitments by many governments in the region to political and economic reform.  Combined, these dynamics have created significant opportunities for investment in the region including China, India, Indonesia, Philippines and Asian frontier markets such as Vietnam and Myanmar.  Read more

Legal firm Jones Day bolsters its integrated projects, energy, and finance capabilities in Asia

The global law firm Jones Day has announced the addition of five partners in Asia with extensive experience related to large infrastructure projects, banking and finance, and energy transactions. James Harris, Julien Reidy, Bruce Schulberg, and Alex Cull will join in Singapore, and Kanyi Lui will join in Beijing (China). Read more

Everbright International signs Shandong Weifang Waste-to-energy Project Phase II

China Everbright International Limited has announced that it has signed a supplementary agreement in addition to its household waste-to-energy project concession agreement with the Weifang Municipal Bureau of City Administration and Law Enforcement in Shandong Province (China) to invest in and construct the Weifang Waste-to-energy Project Phase II. This is the seventeenth waste-to-energy project that the Group has invested in and constructed in Shandong Province. Weifang Project Phase II will be constructed on a BOT (Build-Operate-Transfer) basis and will be transferred to the government at the same time as Weifang Project Phase I. The total amount to be invested into Project Phase II will be approximately RMB165 million (US$24.7 million) and this phase will have a daily household waste processing capacity of 500 tonnes. It is expected to generate approximately 46,000,000 kWh of green electricity annually, and its gas emissions will fully comply with the Euro 2010 Standard. After Project Phase II is constructed, the total daily waste processing capacity of the Weifang Project will reach 1,500 tonnes. Mr. Chen Xiaoping, CEO of Everbright International, said: Read more

Everbright International secures Shandong Fei County waste to energy BOT project

China Everbright International Limited  has signed a concession agreement for a household waste-to-energy project with the People's Government of Fei County, Shandong Province. The group will invest in the construction of the Fei County Household Waste-to-energy PPP project in Shandong Province. Read more

Everbright Water completes construction of two waste-water treatment projects

China Everbright Water Limited has announced that Ji'nan Waste Water Treatment (Plant 1) Expansion Project has completed construction and commenced commercial operation. In addition, Ji'nan Xike Waste Water Treatment Project (Plant 4) Phase II has also completed construction and the project is currently in the commissioning phase. Both projects are situated in Shandong Province in China.Ji'nan WWT (Plant 1) Expansion Project was secured in August 2015 and construction commenced in October 2015. The total investment for this expansion project is approximately CNY112 million (US$ 16.7 million) with a daily waste water treatment capacity of 50,000 m3. This expansion project completed construction in May 2016 and it started operation in June 2016. Currently, the total daily waste water treatment capacity of Ji'nan Waste Water Treatment Project (Plant 1) reaches 350,000 m3. The water discharge complies with the national Grade 1A standard. Ji'nan Xike WWT Project (Plant 4) Phase II is one of the 12th Five-Year-Plan key energy-saving projects in Ji'nan City and Shandong Province, and it is also one of the ten pilot sponge city construction projects in Ji'nan. The company won the tender for this project in December 2015. This project has a designed daily waste water treatment capacity of 70,000 m3. The total investment is approximately RMB240 million (US$ 35.7 million) and the water discharge complies with the national Grade 1A standard. The construction of this project began in January 2016 and was completed in June 2016. Ji'nan Xike WWT Project (Plant 4) Phase II is currently in commissioning phase.  Read more