Korean investors offer fuel production from waste

May invest $60m, need seven hectares of land for plant construction

LAHORE: A group of South Korean investors is keen to invest $60 million in Punjab for setting up a waste management plant that will convert waste products into diesel.

The proposal was put forward by a high-level delegation, led by Heritage International Chairman Ko Moon Seok, Vice Chairman Chang Hyo Soon and K-biz International’s Kim Won Taek, which visited Punjab Board of Investment and Trade’s (PBIT) headquarters.



The visiting delegates said their independent and successful company transformed 100 tons of waste into more than 50% energy resource (ie diesel) in Korea and offered to set up a similar plant in Punjab.

They cited the waste items that were used in the process which included tyres, animal waste, plastics, trees, drain sludge, rubber, food waste, etcetera, adding that the diesel to be produced by the unit would be consumable immediately.

A desire for international expansion was behind their experimentation in Pakistan, the delegates said, elaborating that plants were also being established in Germany, Canada and Saudi Arabia.

The plant would require seven hectares of land while its construction would take six months to a year, they said.

“The biggest unit requires 100 people for its working whereas the smallest unit needs 10 workers,” the delegates noted, while highlighting the expected job creation by the plant.

PBIT Chief Executive Officer Jahanzeb Burana asked the potential investors to provide a solid proposal, while offering coordination with the Lahore Waste Management Authority to better structure their plan for Punjab.



He said Pakistan was a free market and had a high garbage output of over 10,000 tons per day. He suggested building vocational centres as well for running the plant, adding that a letter for expression of interest was required for further processing.

He also assured the investors of PBIT’s support in the endeavour, adding his organisation would facilitate the acquisition of land and obtaining clearance from the government departments concerned.

Published in The Express Tribune, August 9^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.