Cinergex Announces Partnership With Tri-Clean Enterprises Inc. For Malaysia Project

Pickering, Ontario - Cinergex Solutions Ltd., a fabricator of cutting-edge Waste-to-Energy (WTE) systems, has reached a tentative agreement to construct a facility in Penang, Malaysia to process waste. The plant will process up to 1500 tonnes of municipal solid waste per day. The plant will generate up to 32 Megawatts of much-needed electricity and construction is expected to be completed within 12 months of the execution of the final contracts. The total capital cost is estimated to be $147M (U.S.).

Malaysian Deputy Prime Minister Datuk Seri Najib Tun Razak, Housing and Local Government Minister Datuk Seri Ong Ka Ting and Science, Technology and Innovation Minister Datuk Seri Dr Jamaluddin Jarjis recently conducted a fact-finding mission that included visits to modern thermal treatment plants and indicated that they were in favor of solutions offering sound economics and strong environmental protection.

"The Malaysian government has already demonstrated an enthusiasm for thermal treatment of waste and this plant will dramatically increase the percentage of waste that is being put to real use, rather than simply filling up a landfill and causing untold future environmental problems," said Gus Papadakos, Managing Director of Cinergex.

"This will be the largest waste treatment system yet announced under the recent joint venture with Tri Clean Enterprises Inc. and proof that combining the strengths of the two companies will let us tackle far more projects than either company could hope to do on their own," added Papadakos. Tri Clean will supply the gasification components while Cinergex will supply all the electrical components required by each system. Cinergex will be responsible for lead generation, sales, contracting and overall project management.

The project will have a total cost of $147M (U.S.) and will be the largest gasification plant yet built in Southeast Asia. Tri Clean's portion of the project is expected to be $75M (U.S.) The company has received several expressions of interest from other municipalities in Malaysia and in Aceh Province, in Indonesia, seeking similar advanced waste treatment facilities and it expects to announce additional projects in the region by the autumn of 2007.

SOURCE: Cinergex Solutions Ltd.