Slovenian company Riko said it has signed a letter of intent to re-engineer a waste management system and build a biogas-fuelled power plant in the Ukrainian city of Kharkiv.
Riko also said in a statement on its website earlier this week it has signed a protocol on further business cooperation with Turboatom, a Ukrainian steam turbines maker.
Ljubljana-based Riko (www.riko.si) is active in planning and executing projects in the areas of technological equipment, power systems, environmental protection, logistics and civil engineering.
The company said it will take on the project for the modernisation and upgrade of the waste management system in the second largest Ukrainian city as a general contractor.
The contract is expected to be signed sometime by the end of 2011 and the completed project should be handed over to the investor in 2013. The estimated project value is approximately 25 million euro ($34.7 million).
Riko said the project in Kharkiv will improve the city's waste management system and would involve building a modern sorting facility for separating secondary raw materials from municipal waste, a new modern waste landfill that meets European standards, a modern wastewater collection system and a rainwater harvesting system.
"We are also going to install a degasification system and landfill gas collection system. As a part of this project, we are going to build a 6.0 megawatt landfill gas power plant and provide the equipment for it," the statement said.
Under the protocol signed with Turboatom, Riko will take part in the modernisation of its foundry and, in cooperation with Slovenian partners, in the upgrade of the thermal treatment processes for castings and forgings. "This includes modernising the existing equipment and supplying new technological equipment. The scope of these projects, anticipated to be realised in 2012-2013, is estimated at 10 million euro," the statement said.
Riko said it has already signed one deal with Turboatom earlier this year alongside a further three on the Ukrainian market: with Hydrosila, a manufacturer of hydraulic units for the market of the former Soviet Union; Vaz, which designs and manufactures hydraulic components; and Ukrlomprom, a company for the collection and processing of secondary materials.
($=0.7212 euro)
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