Cypark wins 25-year waste management concession


  • Corporate News
  • Friday, 20 Nov 2015

KUALA LUMPUR: Cypark Resources Bhd has won a 25-year concession to treat and dispose solid waste at a waste-to-energy (WTE) plant to be built in Ladang Tanah Merah, Negri Sembilan.

In a filing with Bursa Malaysia, the environmental engineering and technology provider said its unit Cypark Smart Technology Sdn Bhd (CST) had on Nov 9 entered into a concession agreement with the the Housing and Local Government Ministry’s unit Solid Waste And Public Cleansing Management Corp and the Government.

On a public private partnership basis, the Government gives CST the rights to undertake the design, construction, maintenance, operation and management of Solid Waste Modular Advanced Recovery and Treatment Systems (Smart WTE system) under the build-operate-manage-transfer concept.

“The Smart WTE system entails smart technology and design which utilises 100% clean technology concepts and system to produce renewable source for the production of renewable energy,” the company said.

The system consists of a waste receiving facility, waste segregation facility, waste recycling facility, waste to energy plant, fully anaerobic bioreactor system and sanitary landfill.
 
Under the concession agreement, the Government will deliver contracted solid waste from designated scheme areas to CST for treatment and disposal at the Smart WTE system.

CST will be paid an agreed fee as defined in the concession agreement. Cypark did not reveal the fee or the estimated value of the contract.

Cypark said CST would also be generating revenue from sales of electricity for converting the waste to clean renewable energy under the Sustainable Energy Development Authority Malaysia Act.

Cypark shares rose 2 sen to RM1.89 at Friday’s close. 

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