Better World Green, IEAT JV to invest 84.5m for building Thailand’s first waste-to-energy industrial estates

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Thailand’s industrial waste management company Better World Green PCL (BWG) has signed a memorandum of understanding with the Industrial Estate Authority of Thailand (IEAT) to set up three industrial estates for waste-to-energy plants at a total investment of 3 billion baht ($84.5 million).

The projects are initiated to promote renewable energy and solve the problem of industrial waste in Thailand.

Both parties will conduct a feasibility plan to explore the suitable locations followed by development of the three plants over the next five-year period.

Initially, they plan to accommodate each of the industrial estates on the land of 1,000 rais in different regions, including the central, the eastern and the western ones.

“We already have the locations in our mind, but we cannot reveal them at the moment,” BWG’s chief executive Suwat Lueangwiriya told DEALSTREETASIA. “Logically, they should be set up near the clusters of industrial factories, for example, the special economic zone on the border of Thailand and Myanmar.”

After the feasibility plan is completed, BWG and IEAT will discuss and finalise the shareholding structure.

Suwat said, around 500 million baht of the investment would come from its cash flow and financing. For the remaining, it will raise through the issuance of 319.88 million additional private placement shares, with a par value of 0.25 baht each, to foreign funds.

BWG’s revenue has mainly come from industrial waste management business. Once the estates and its first renewable power plant are complete, its revenue will be generated from three core businesses. However, the proportion from each business will depend on future investment projects, he added.

In the past, a plenty of Thai operators were interested in the waste-management and waste-to-energy businesses, but the main issue that blocked them was the environmental concern. Hence, IEAT’s move to shape these estates into reality.

The CEO cited that these estates would also contribute long-term benefits to the society and the environment.

The company projected its revenue would expand 20 per cent from 1.518 billion baht ($42.76 million) in 2014.

The quantity of industrial waste is estimated to increase from 297,000 tonnes last year to 350,000 tonnes in 2015.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
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