Bangkok--24 Dec--Master Mind Communications
MAI-listed L.V. Technology Public Company Limited (LVT) has been contracted by the blue-chip Siam Cement Group to build an environmental-friendly coal storage facility in the Nakhon Luang District of Ayutthaya Province, which will become the first of its kind in ASEAN.
In a filing with the Stock Exchange of Thailand (SET) today (Dec 19, 2012), LVT president Hans Jorgen Nielsen said the project covers the engineering design, procurement of machinery and equipment and the final installation of the “Closed Warehouse and Conveying System for Coal” — also known as the Wat Bundai Project.
An important source of energy in cement production in Thailand, coal is imported from major suppliers such as Indonesia, and the unloading process at warehouse facilities here — normally done in open air — generates a lot of dusts which causes environmental damage to nearby communities. The “closed” system being erected at the Wat Bundai Project effectively prevents such negative environmental impact.
LVT’s Mr. Nielsen said the project is the first of its kind in ASEAN where most coal handling facilities are still done in the open. It is a part of Siam Cement Group’s broader corporate social responsibility (CSR) program.
Considered a medium-sized facility with 16,000 tons capacity, the contract is worth about 152 million baht. Work has started and it will take nine months to complete.
Mr. Nielsen said the latest contract has brought LVT’s backlog to about 2.5 billion baht now. He added that the total backlog will increase to about 3.2 billion baht by year-end as previously projected.