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Keppel unit to provide technology for waste-to-energy plants in India
KEPPEL Seghers Belgium, a wholly-owned subsidiary of Keppel Corp's infrastructure arm, has secured contracts worth more than 12 million euros (S$18 million) to supply technology and services to waste-to-energy plants in India.
Keppel Corp said on Monday that Belgium-based Keppel Seghers will provide the core equipment, design and technical services for the plants' air-cooled grate and vertical boiler.
The contracts were signed with Abellon Clean Energy, which owns the plants and is based out of Gujarat in India.
When completed, the facility can effectively reduce the volume of waste that goes to landfills by over 90 per cent, Keppel Corp said.
Keppel Seghers has implemented more than 100 waste-to-energy projects around the world.
The transactions are not expected to have a material impact on the earnings per share and net tangible asset per share of Keppel Corp for the financial year ending Dec 31, 2020.
Ong Tiong Guan, chief executive officer of Keppel Infrastructure, said the amount of waste being generated by communities worldwide has been rising in tandem with rapid urbanisation, which is a challenge that has to be tackled responsibly. "Modern waste-to-energy plants have proven to be an effective strategy to reduce the amount of waste going to landfills," Dr Ong added.
Shares of Keppel Corp closed up S$0.03 or 0.4 per cent to S$6.84 on Friday.