KUALA LUMPUR (Feb 2): Cypark Resources Bhd has received an approval-in-principle letter from the government for the proposed development of a new sanitary landfill in Negeri Sembilan.
In a statement today, the company said the approval allows Cypark to implement the project through build, operate and transfer (BOT) method subject to the terms and conditions to be agreed, via a public private partnership.
It would enable Cypark 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, it said.
The environmental technology and engineering specialist had earlier submitted the BOT proposal to the government for a concession period of 25 years.
The project, which will treat and dispose municipal solid waste (MSW) received from many parts of Negeri Sembilan, is expected to commence this year and completed in a few phases over a period of two years.
The estimated flow of MSW into the project is above 1,000 tonnes per day.
Cypark executive chairman Tan Sri Razali Ismail said the project would contribute significantly to the revenue and earnings of his company.
The earnings would come from the tipping fees paid by the government for every tonne of MSW received and the sale of renewable energy to Tenaga Nasional Bhd with favourable rates as currently provided by the Sustainable Energy Development Authority (SEDA) through the Feed-in-Tariff (FiT).
"We expect to see even brighter prospects for Cypark," he said, adding that, this will be in addition to the recurring future earnings to be generated by its other renewable energy projects, such as the Pajam 8 MW solar farm.
Pajam 8 would start selling green energy to Tenaga Nasional for 21 years from March 2012, Razali said. — Bernama
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