Press releases

ZhongDe Waste Technology AG signed financial leasing contracts of two BOT projects

 

Frankfurt, November 10, 2010

ZhongDe Waste Technology AG ("ZhongDe", Ticker symbol "ZEF") announces today that its subsidiaries (Kunming FengDe Environmental Protection Electric Power Co., Ltd. and Xianning ZhongDe Environmental Protection Electric Power Co., Ltd.) separately have signed financial leasing contracts with Huarong Financial Leasing Co., Ltd for the Kunming and the Xianning BOT Projects.

 

The contract volumes for the Kunming and Xianning projects are RMB 120 million and RMB 90 million respectively. The sum of the two contracts amounts to RMB 210 million. While the leasing term is up to approximately 60 months, the monthly interest rate for the two projects are the same at 0.51667%. With the 1.2% service fee, the total cost will be a 7.4% annual rate when the contracts expire.

Chen, Zefeng, founder and CEO of ZhongDe Waste Technology AG, comments: "As waste-to-energy industry becomes increasingly popular, Chinese government issues a series of preferential policies to actively promote the development of waste-to-energy. The leasing from China Huarong Financial Leasing Co., Ltd for both Kunming and Xianning projects will not only open up the new financing way for more and more new BOT projects of ZhongDe, but also create additional value for ZhongDe shareholders by financial leverage."

 

China Huarong Financial Leasing Co., Ltd. has registered capital of RMB 2 billion, total assets of RMB25 billion. Its majority stockholder is China Huarong Asset Management Corporation. As one of the leading enterprises in China, China Huarong Financial Leasing Co., Ltd has provided financial leasing services for more than 3,700 companies. Its accumulated leasing funds has reached RMB 75 billion and its business has covered 30 provinces of China for 20 years.

 

 

About ZhongDe Group

ZhongDe Waste Technology is an energy-from-waste company that designs, invests in, constructs and operates energy-from-waste plants, which generate electricity through the disposal of solid municipal, industrial (including hazardous) and medical waste. Since 1996, ZhongDe Group has completed approximately 200 waste disposal projects in about 13 provinces in China, of which more than 80 projects have been completed in the last three years.

 

 

Contact

William Jiuhua Wang
Executive Director and CFO
william.jw@zhongdetech.com

 

Kirchhoff Consult AG (Investor & Public Relations)
Sebastian Bucher
Herrengraben 1
20459 Hamburg
Germany
Tel.: +49 40 609186 0
Fax: +49 40 609186 60
Email: sebastian.bucher@kirchhoff.de

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