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China Everbright in talks with Covanta on China project

(Agencies)
Updated: 2009-04-20 17:22

China Everbright International Ltd, a sewage treatment and waste-to-energy project developer, said it is in talks with Covanta Holding Corp of the United States to develop a waste management project in the mainland.

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"Covanta would like to do a joint venture with us," said Philip Fan, general manager of China Everbright, a unit of State-backed conglomerate China Everbright Holdings.

"We are always open to discussion but so far none has come to any conclusion," he said.

China Everbright also expects EBITDA (earnings before interest, tax, depreciation and amortization) for its core business of environmental protection to rise 50 percent this year and next as it completes more sewage treatment and other projects this year, Fan said.