CWT Advances on Community Waste Management and Disposal Project Worth ฿300M
CWT Advances on Community Waste Management and Disposal Project Worth ฿300M to Further Its Business in Power Plant.
Chai Watana Tannery Group Public Company Limited (CWT) has announced that on July 24, 2020, the company’s Board of Directors approved the resolution to invest in the Community Waste Management and Disposal Project through its subsidiary.
Green Power 1 Company Limited (GP1), in which CWT holds 75.01% of the shares, received the letter of notification on March 13, 2020, that GP1 has been selected to be the operator of the Community Waste Management and Disposal Project, privately invested in Nakhonsawan (the Project) which according to the resolution of the Board of Directors No. 19/2020 on July 24, 2020 approved GP1 to invest in the Project.
Hence, according to the letter, GP1 will start to operate under the Community Waste Management and Disposal Project which operate in Nakhonsawan municipality, at the present there are approximately around 170 – 200 tons of waste per day, with a landfill inside the waste management center, Makluea district with a capacity of 1,000,000 tons.
Therefore, the Nakhonsawan municipality wants to improve and increase the efficiency to match the tendency of the waste in the area that tends to increase. By selecting GP1 to be the operator, waste management capacity will not only increase to 30 tons/hour and not less than 400 tons/day but GP1 will also convert waste to RDF (Refuse Derived Fuel). Overall, the project will require the investment of 325.80 Million Baht and will start the Project in August, 2020
The investment in the Project will have a total value of 325.8 Million Baht, in which CWT holds 75.009% in GP1, equivalent to 244.38 Million Baht. The Project will begin in August 2020. The fund of 325.8 Million Baht, 70% of the fund will come from loan and 30% will come from equity.
By investing in the Project, CWT is expected to be the first step toward generating power from waste (RDF: Refuse Derived Fuel) which will enable GP1 to commercialize the electricity. The Project will resonate with the current global energy trend and improve the life of those within the area.