Cypark Resources Bhd (Cypark) has received approval-in-principle from the government of Malaysia for the proposed development of a new sanitary landfill in Negeri Sembilan.
The proposed development is by way of a public private partnership. The approval allows Cypark to implement the project through the build, operate and transfer (BOT) method, which is subject to term and conditions to be agreed.
Earlier on, Cypark had submitted the BOT proposal to the government for a 25-year concession period.
The approval-in-principle would also enable Cypark to proceed with negotiations to finalise the terms and conditions of the concession agreement. It is targeted for completion in the next six months.
Cypark executive chairman and founder Tan Sri Razali Ismailcommented, “Upon completion, the project will contribute significantly to the revenue and earnings of Cypark. The earnings will be contributed from tipping fees paid by the government for every tonne of MSW (municipal solid waste) received and the sale of renewable energy toTenaga Nasional Bhd (TNB) with favourable rates as currently provided by the Sustainable Energy Development Authority (SEDA) through the Feed-in-Tariff (FIT).”
The project will involve the development of a sanitary landfill along with the required infrastructure, material recovery facilities, and subsequently the development of renewable energy plants for green energy generation from waste biomass and methane gas. It is expected to commence this year and completed through phases in the span of two years.
Razali added, “With the company’s future earnings being contributed significantly by long-term concessionaire type of income, we expect to see even brighter prospects for Cypark.”
