PETALING JAYA: PLB Engineering Bhd’s subsidiary PLB Terang Sdn Bhd has clinched a 20-year concession agreement with Majlis Perbandaran Seberang Perai (MPSP) and Majlis Perbandaran Pulau Pinang (MPPP) to operate and maintain a sanitary landfill and materials recovery facility at Pulau Burung, Seberang Perai Selatan, Penang.
MPSP and MPPP have agreed to pay PLB Terang a tipping fee, from RM20.20 per tonne to RM26.89 per tonne depending on the number of years in operation for each billing month. This tipping fee is inclusive of the tax the concession company may be required to pay in relation to the sale and delivery of the services to the local district councils, according to filings.
PLB Terang is contracted to design, develop, engineer, procure, install, supply, construct, startup, test, commission, implement, own, operate, manage and maintain several waste facilities for 20 years.
The company also has to treat the leachate produced by the existing sanitary landfill at two other existing sites and convert 10.12ha wetlands into an eco-park.
“The concession agreement is expected to contribute positively to the earnings and net assets per share of PLB Group for the financial years ending 2012 to 2032,” the company said.
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