One Bangkok, Thailand's largest integrated development in the heart of Bangkok's central business district, continues to deliver its commitment to sustainability by signing a Memorandum of Understanding (MOU) with SCG for food waste management using 13 units high-efficiency food waste composters. The solution will compost food waste collected from businesses throughout One Bangkok into fertiliser.
Mr. Lim Hua Tiong, Chief Executive Officer, One Bangkok said: "We are committed to raising sustainability standards and proud to partner with SCG once again to introduce the food waste management using this high-efficiency technology to process the food and organic wastes. We expect the composter to generate surplus organic fertiliser, which we intend to distribute to local communities and public entities to help maintain the city's parks and gardens. By bringing such cutting-edge solutions to Thailand, we hope to inspire more businesses and the local communities to join us in embracing circular economy practices."
Mr. Nithi Patarachoke, President, Cement-Building Materials Business, SCG, said "At SCG, we adhere to the principles of circular economy as part of our ESG 4 Plus targets. We previously collaborated with One Bangkok to demonstrate circular economy principles in different areas, such as using technologies to recycle crushed pile heads into precast concrete panels and to recycle autoclaved lightweight concrete (ALC) waste from construction into Q-CON sound barriers. This time, the installation and operation of the high-efficiency food waste composters will help efficiently transform food waste into fertiliser with less time as the project pledges to make the construction site net-zero and drives the construction industry towards sustainable development."
This food waste management solution has proven to be of great utility at leading properties globally, such as Heathrow Airport in the United Kingdom, the Brisbane Convention and Exhibition Centre, Frasers Property-developed Burwood Brickworks shopping centre in Melbourne and prominent supermarkets across Europe. The technology can rapidly break down food waste into fertiliser within 10 hours. The composters operate in a closed-circuit system to control odours from the food waste. The solution is expected to reduce the amount of food waste by more than 80% and produce organic fertilisers and soil amendment materials with plant minerals in accordance with the criteria from the Department of Agriculture.
This food waste composting system will be installed at One Bangkok since the construction phase, aim to process food waste generated from thousands of construction workers. The system will be fully operational and integrated for use throughout the development. The expected results include:
About One Bangkok
One Bangkok is the largest integrated development in the city's central business district with a complete mix of commercial, residential, retail and recreational uses, and an investment value of over THB120 billion, spanning a total land area of 104 rai, or 166,400 square meters. When fully completed, the project will include five premium Grade A office towers, four distinct retail precincts, five luxury and lifestyle hotels and three luxury residential towers designed with people-centric, sustainable and smart city living concepts.
One Bangkok aims to be the first project in Thailand to receive the highest certified LEED platinum for Neighbourhood Development, and the WELL Building Standard for health and well-being of all occupants, setting a new benchmark for green and sustainable development for Thailand. The first phase is scheduled for opening in the fourth quarter of 2023.
About Frasers Property Limited
Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multi-national developer-owner-operator of real estate products and services across the property value chain. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$40.7 billion as at 31 March 2022.
Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities and 20 countries across Asia, Australia, Europe, the Middle East and Africa.
Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial properties, respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.
The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It has committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and are invested in promoting a progressive, collaborative and respectful culture.
For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.
TCC Assets (Thailand) Company Limited ("TCC Assets") is an investment holding and fully integrated real estate company with a registered capital of THB 10 billion. Incorporated in 2013, it is part of the TCC Group, one of Thailand's most prominent conglomerates. Together with its subsidiaries and affiliated companies, TCC Assets maintains a portfolio of residential, commercial, and retail properties, along with hospitality and technology-related services.
For more information on TCC Assets, please visit www.tccassets.com
SCG was established in 1913 following a royal decree of His Majesty King Rama VI to produce cement, the main building material for infrastructure projects that greatly contributed to the progress of the country. Since its founding, SCG has offered innovative products and services that serve customers' needs through more than 200 subsidiaries in Thailand and strategic markets globally, and diversified into three core businesses, namely Cement-Building Materials Business, Chemicals Business and Packaging Business.
SCG adheres to conducting its business with ethics, and responsibility to all stakeholders for sustainable mutual benefits. SCG has set its Sustainable Development Framework in accordance with global practices, covering three dimensions of economy, society and the environment, with corporate governance as an overarching principle. In addition, SCG has appointed three core sustainable development strategies that are Climate Resilience, Circular Economy and Safety.
Focusing on Circular Economy, SCG realizes the global issue of waste problem and resource scarcity. SCG adopts circular economy to cope with these issues and actively seeks collaboration across sectors and stakeholders to realize efficient waste management, maximization of resource use and reducing wasteful use of new resource.
For more information about SCG and its Sustainable Development Policy, please visit www.scg.com