The Board of Director’s meeting of The International Engineering PCL or “IEC” on 25th May 2015 has a resolution to acquire raw lands in preparation for construction of alternative energy power plant. The developed land site will be further divested to investor(s) desirous of developing an alternative energy power plant.
The Company has considered on the land buy & sell project investment, situated at Tambon Nong Eroon, Ampur Ban Bueng, Chonburi, where raw lands will be developed to facilitate construction of renewable energy power plant. The land site will be acquired due to its prevailed potential for future development as a construction site for power plant with the following supportive conditions:
(1) Fuel supplies of 400 ton/day municipality solid waste while the area is stipulated as the waste-to-energy project site under the national agenda prescribed by the National Council for Peace and Order (NCPO) on 26 August 2014.
(2) Albeit after survey, no transmission lines found in the vicinity, Provincial Electricity Authority intends to set up a power station over the land area.
(3) The project site is 2-km distance off the under-construction Ban Bueng Industrial Estate, however, steam-supply issues for those plants requiring high heating energy like ceramic, steel industries are still pending. Apparently, the land site at Ban Bueng can accommodate the construction of biogas plant and its product transportation to Ban Bueng Industrial Estate.
Total area is approximately 119 rai with value and site preparation in the total of THB156.22 million. The land is expected to value THB186.21 million for sale and would be sold with 1 year after acquisition.
8/6/2015
Source: Investor Relations, The International Engineering PCL.