BTM Resources to set up waste-to-energy plant

PETALING JAYA: BTM Resources Bhd (BTM) has entered into a memorandum of understanding (MoU) with China Western Power International Pte Ltd and Sichuan No. 2 Electric Power Construction Company (Sichuan Power) to set up a waste-to-energy plant in Malacca at a cost of RM435 million.
BTM told Bursa Malaysia yesterday, the parties shall jointly invest in securing the power generation project via a special purpose vehicle to be established by the parties or their respective related companies. The plant is to have a capacity of not less than 1,000 tonnes per day.
BTM said its obligation is to secure a waste disposal concession of not less than 25 years from the Malacca government as well as suitable tipping fee and power purchase agreement. It is also required to identify, propose and procure a suitable site for the plant.
Meanwhile, China Western Power and Sichuan Power will be responsible for the procurement of the entire funding cost for the engineering, procurement, construction and commissioning of the power generation project.
BTM said the collaboration will serve as a platform for the company to tap into “the reputation, experience and standing” of Sichuan Power in power generation projects.
“This will also diversify the income stream and contribute to the profitability of BTM Group in the future,” it added.
China Western Power is involved in the business of investment, engineering, business and management services in clean energy, while Sichuan Power is involved in developing, investing, constructing and operating of renewable energy projects.