IEC launched a joint venture company to invest Hatyai waste power plant
Dr. Bhusana Premanode, President of the international Engineering Public Company Limited (IEC), or IEC has announced a joint venture company, which will invest in the company's waste power plant.
According to a waste power plant project, operated by GIDEC, which the plant eliminate waste from local community and generate energy to sell in which currently stands at 4.3 MW, which the company expects to increase its capacity is 5.8 MW within the end of January 16. IEC is the first waste power plant to use Ash- Melting Gasification technology, which is advance technology from Finland and the United Kingdom.
With the modern technology, environmentally friendly technology, as a result of the IEC plant is of interest to various institutional investors. In conclusion, IEC has selected the Yunnan Water Investment PLC as a joint venture. MOU has signed on January 7, 2015.
Yunnan Water Company Investor PLC is listed on the Hong Kong Stock Exchange with its main shareholder China's state owner are two of the Yunnan Metropolitan Construction Investment and Beijing Origin Water.
In November 2015, the Yunnan Water Investors has announced the acquisition of a waste power plant in Phuket with the proportion of the total, which is worth 2,500 million baht or 70 million USD.
In summary, Yunnan Water Investor PLC is interested to participate in financing in many projects as detailed below;
1. The capacity expansion of the GIDEC waste power plant in Songkhla with additional 3 MW. As a result, GIDEC will generate 8.8 MW in total and can accommodate daily waste capacity of 500 tons.
2. Waste Power Plant at Ban Bung, Chon Buri which is now the IEC has received waste from local administrative organization. At the moment, there is about 480 tons of waste daily.
3. Waste Power Plant Project in Nonthaburi which is expected to be bided the price. The estimate about 200 tons of waste daily.
4. Phatthalung waste disposal plant is which approximately 250 tons of waste daily.
From these projects, IEC has a joint venture with Yunnan Water Investor PLC to decrease borrowing loans from the financial institutes and be able to carry out waste disposal projects faster and more efficiently.
Source: IEC investor relations
12/01/2016