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Ecolomondo Contracts Construction of its new TDP Turnkey Facility
Ecolomondo Contracts Construction of its new TDP Turnkey Facility Canada NewsWire ...
About this update from Ecolomondo Corporation
[{"type":"text","content":"\n\n\n\nEcolomondo Contracts Construction of its new TDP Turnkey Facility\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, June 10, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, June 10, 2019 /CNW Telbec/ - Ecolomondo Corporation (TSX-V: ECM) (the \"Company\" or \"Ecolomondo\") announces that it has selected Maylan Group Inc. (the \"Contractor\" or \"Maylan\") of Hawkesbury, Ontario, to construct the building that will house its new Thermal Decomposition Process (\"TDP\") turnkey facility to be located on Tessier street in Hawkesbury, Ontario. The Company and the Contractor have recently signed a binding Design-Build contract with a not-to-exceed price of $6.6 million, with substantial completion expected by January 15, 2020. \n\n \n \n\n \nMaylan is a privately owned construction company located in Hawkesbury, Ontario, that since 1998 has built numerous commercial, industrial, institutional and residential projects. Maylan prides itself on its reputation, delivering projects on time and on budget.\nThe Company also issued additional purchase orders totalling approximately $7.5 million for plant equipment, including reactors, ground flare, gas scrubbers, carbon black and oil processing lines.\nAs previously announced in a press release dated April 3, 2019, the funds for these equipment purchases will come from the proceeds of a project financing loan of $32.1 million from Export Development Canada (\"EDC\") and from an equity injection of approximately $5.2 million by the Company and the Joint Venture partner, Greg Matzel.\nThe Hawkesbury TDP turnkey facility will be a first of its kind and be used as a technological showpiece to promote TDP turnkey facilities. Once built, this state-of-the-art facility will consist of four different processing departments (shredding, thermal, carbon black processing, oil distillation) and, when fully operational, this facility is expected to process a minimum of 14,000 tons of tire waste per year and produce 5...