Breaking News

Asia Today ISSN 1861-4604 Monday, July 16, 2018

Headline

Bahrain`s OAK wins energy deal in Ukraine

The project is being executed as a public-private partnership

Share on Facebook October 14, 2014, Reporter : BigNewsNet, Reader : 479

news

OAK Utility Solutions and Development, a Bahrain-based solutions provider, has secured a Ukraine government assignment to implement and construct an 'energy-from-waste' utility in the country, it was announced.

The solution is based on 'advanced modular technology' that will convert 140,000 tonnes per year of municipal solid and additional homogeneous waste into electricity, said a report in the Gulf Daily News (GDN), our sister publication.

The project is being executed as a public-private partnership and the assignment capital expenditure is valued at $70 million., Gulf Daily News reported.

The project, which will be executed as a public-private partnership, with an expected value of USD70 million is set to convert 140.000 tons of municipal solid and additional homogeneous waste into electricity per year.

Under the assignment, OAK will lead, construct and manage the delivery of the project consortium, as well as provide operations and management support throughout the concessionary term.

"This underpins OAK's model of constructing multiple boutique clean-tech utility plants which are in high global demand. It places OAK in Bahrain as a net exporter of waste processing and energy solutions across Europe and Mena," OAK Chief Executive said.

It is backed by a long-term Government Concession Agreement and will leverage private equity funding originating from Gulf-based investment firms.

Following the detailed engineering phase of works, OAK will also lead the project consortium, managing the delivery and construction, as well as providing operations and management support throughout the 25-year concessionary term.

“This underpins OAK's model of constructing multiple boutique clean-tech utility plants which are in high global demand,” OAK chief executive Gareth Brown said.

“It places OAK in Bahrain as a net exporter of waste processing and energy solutions across Europe and Mena, resulting in the production of electricity and/or commodities such as syngas and fuel oil as major by-products of our engineered solutions.

“We are able to present investors with low-risk, high-yield investment opportunities, leveraging proven technologies which generate healthy returns.”

This is the company's second waste-to-energy project assignment, and the first one was in Adana, Turkey.

More Euro Asia news of the month

Photos Bahrainis Continue Anti-Regime Rallies in Solidarity with Sheikh Qassim

TEHRAN (Tasnim) - Bahraini people from all walks of life, once again, poured into the streets in various cities to condemn the Al...

Photos US, Britain Directly Involved in Crackdown on Bahrainis: Opposition Figure

TEHRAN (Tasnim) - A senior official with Bahraini opposition group the Islamic Action Society slammed the US and British governments for...

Photos Bahraini Regime Forces Arrest 32 People in 24 Hours

TEHRAN (Tasnim) - Bahraini forces have reportedly arrested at least 32 people during separate raids on a number of houses across the...

Photos Bahraini king says only a matter of time before Arab states align with Israel

MANAMA, Bahrain - This week's designation by the GCC (Gulf Cooperation Council) of Hezbollah as a terrorist group is seen as part of...

Photos Bahrainis rally against Saudi airstrikes on Yemen

Dozens of protesters have staged separate demonstrations across Bahrain to express their resentment over the ongoing Saudi military...

Photos HM the King praises Britain’s role in maintaining regional security

Manama, Feb. 11. (BNA) - His Majesty King Hamad bin Isa Al Khalifa received at Al Sakhir Palace today Chief of the Naval staff of the...

Photos Bahrain clerci’s arrest impulsive, imprudent: Iran official

A senior Iranian official has hit out at the Manama regime for apprehending Bahraini opposition leader Sheikh Ali Salman, describing his...

Photos Clashes break out outside Bahrain opposition leader’s home

Clashes have broken out between police in Bahrain and anti-regime demonstrators protesting against the prolonged detention of the...

Photos Bahrain , Azerbaijan sign military co-op plan

Baku, Azerbaijan, Dec.26 By Ilkin Izzet – Trend: A military cooperation plan was signed during the visit of Azerbaijani Defense...

Flying Reimagined

Stock Index

Monday, July 16, 2018

Life Style

Photo Gallery

FEUILLETON