SINGAPORE - Acromec subsidiary, Acropower, has extended by a month the validity of a letter of intent (LOI) signed with egg producer Chew's Agriculture for the building and operation of a waste-to-energy power plant.
The LOI was initially inked on Dec 4, 2018, with an expiry date of March 4, 2019. It has been extended to April 4, 2019, with an eventual view towards a definitive agreement, said Acromec in a regulatory filing on Wednesday (March 6). All other terms and conditions remain unchanged.
Acropower is an 80:20 joint venture between Acromec and Malaysian alternative energy company Green Energy Resources. It will build-own-and-operate the plant, while a wholly-owned subsidiary of Chew's Agriculture will supply chicken manure as feedstock.
The plant will be built on a Chew's Agriculture farm at Neo Tiew Road, off Lim Chu Kang.