KUALA LUMPUR (Feb 2): CypARK RESOURCES BHD [] has received an approval-in-principle from the government to develop a new sanitary landfill in Negeri Sembilan by way of a public private partnership.
The company said on Thursday that approval for the landfill at Ladang Tanah Merah allowed it to implement the project via a build, operate and transfer (BOT) method subject to the terms and conditions to be agreed.
Cypark had earlier submitted the BOT proposal to the Government for a concession period of 25 years.
The company said the approval would enable it to proceed with negotiations to finalise and formalise the terms and conditions of the concession agreement, targeted to be completed within the next six months.
In a statement Thursday, Cypark executive chairman and founder Tan Sri Razali Ismail said that upon completion, the project would contribute significantly to the revenue and earnings of the company.
He said the earnings would be contributed from tipping fees paid by the government for every tonne of municipal solid waste (MSW) received and the sale of renewable energy to TENAGA NASIONAL BHD [] with favourable rates as currently provided by the Sustainable Energy Development Authority through the Feed-in-Tariff.
With the stable and recurring income flow expected to come from the new sanitary landfill BOT concession and many renewable energy projects which are currently being implemented, Cypark’s future will be resilient to the local and global market fluctuation, he said.
“With the company’s future earnings being contributed significantly by long-term concessionaire type of income, we expect to see even brighter prospects for Cypark.
“This is in addition to the recurring future earnings to be generated by our other renewable energy projects, such as the Pajam 8 MW solar farm which will start selling green energy to TNB for 21 years from March 2012,” Razali said.
He said the project would involve firstly the development of a sanitary landfill and the required infrastructure, material recovery facilities, and subsequently the development of renewable energy plants for green energy generation from waste biomass and methane gas.
Razali said the project, which was expected to commence this year and to be completed in a few phases over the period of two years, will treat and dispose municipal solid waste (“MSW”) received from many parts of Negeri Sembilan.
The estimated flow of MSW into the project is above 1,000 tonne per day, he said.
The company said on Thursday that approval for the landfill at Ladang Tanah Merah allowed it to implement the project via a build, operate and transfer (BOT) method subject to the terms and conditions to be agreed.
Cypark had earlier submitted the BOT proposal to the Government for a concession period of 25 years.
The company said the approval would enable it to proceed with negotiations to finalise and formalise the terms and conditions of the concession agreement, targeted to be completed within the next six months.
In a statement Thursday, Cypark executive chairman and founder Tan Sri Razali Ismail said that upon completion, the project would contribute significantly to the revenue and earnings of the company.
He said the earnings would be contributed from tipping fees paid by the government for every tonne of municipal solid waste (MSW) received and the sale of renewable energy to TENAGA NASIONAL BHD [] with favourable rates as currently provided by the Sustainable Energy Development Authority through the Feed-in-Tariff.
With the stable and recurring income flow expected to come from the new sanitary landfill BOT concession and many renewable energy projects which are currently being implemented, Cypark’s future will be resilient to the local and global market fluctuation, he said.
“With the company’s future earnings being contributed significantly by long-term concessionaire type of income, we expect to see even brighter prospects for Cypark.
“This is in addition to the recurring future earnings to be generated by our other renewable energy projects, such as the Pajam 8 MW solar farm which will start selling green energy to TNB for 21 years from March 2012,” Razali said.
He said the project would involve firstly the development of a sanitary landfill and the required infrastructure, material recovery facilities, and subsequently the development of renewable energy plants for green energy generation from waste biomass and methane gas.
Razali said the project, which was expected to commence this year and to be completed in a few phases over the period of two years, will treat and dispose municipal solid waste (“MSW”) received from many parts of Negeri Sembilan.
The estimated flow of MSW into the project is above 1,000 tonne per day, he said.
