Friday 29 Mar 2024
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KUALA LUMPUR (Jan 19): Comintel Corp Bhd has entered into talks with Thanh Cong Cooperative to install its green waste management waste-to-energy system at the Xuan Son municipal solid waste treatment plant in Hanoi, Vietnam.

The group's wholly-owned subsidiary, Green Waste Management Sdn Bhd (GWM), has entered into a letter of intent with Thanh Cong for the project, Comintel said in a statement with Bursa Malaysia.

GWM will be appointed as the engineering, procurement and construction contractor for the supply, installation and commission of the system at Thanh Cong's Xuan Son municipal solid waste treatment plant.

The plant has a design capacity to treat 600 tonnes of municipal solid waste per day and generate approximately five megawatts of electric energy.

"GWM undertakes to complete the project within 24 months from the date of the contract should it secure the contract," Comintel said.

Thanh Cong holds the municipal solid waste treatment investment certificate to treat waste at the plant, which has a 50-year tenure from 2011.

The contract price is still being negotiated, Comintel said, and the project should contribute positively to Comintel's future earnings should it materialise.

Shares in Comintel closed up 0.5 sen today at 80 sen, giving the group a market capitalisation of RM112 million.

 

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