Business
Ecolomondo Reports on the Progress of Construction at Its New Hawkesbury TDP Turnkey Facility
(via TheNewswire) Montreal - TheNewswire - July 13, 2020 Ecolomon...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Reports on the Progress of Construction at Its New Hawkesbury TDP Turnkey Facility(via TheNewswire)\n \n \nMontreal - TheNewswire - July 13, 2020 Ecolomondo Corporation (TSXV:ECM) (the \"Company\" or \"Ecolomondo\") reports that the construction of its new, first of its kind, Thermal Decomposition (\"TDP\") turnkey facility, that is being built in Hawkesbury, Ontario, continues to progress according to plan and on budget.\n\n\n \nConstruction of the building made substantial progress during the period ended June 30, 2020. Management estimates that construction of the building will be sufficiently completed before the end of the third quarter to begin receiving the plant equipment. Commissioning is scheduled to begin in the third quarter of 2020 and the Company still anticipates starting commercial operations in the fourth quarter of 2020.\n\n\n \n\nClick Image To View Full Size\n\n \n \nThe building is approximately 46,300 sq.ft in size, rectangular in shape, with ceilings of 31ft high and sitting on approximately 13 acres of land. \n\n\n \n\nClick Image To View Full Size\n\n \n \n\nClick Image To View Full Size\n\n \n \nTo view updates and more pictures of the construction of the Hawkesbury TDP facility, please visit the Company's website at www.ecolomondo.com. \n\n\n \nThe Company informs that all long-lead equipment items are currently being manufactured on budget and on schedule, in particular reactors, fractionation, recovered carbon black, flare, shredding, scrubbing. Management estimates that as of the end of the second quarter of 2020, it has placed purchase orders covering approximately 85% of all the equipment, parts and services needed to build the Hawkesbury TDP turnkey facility. \n\n\n \nManagement projects that direct costs to build the Hawkesbury TDP turnkey facility, including all equipment, land, building and soft costs, should total approximately $37.6 million, of which approximately $32.1 million is expected to come from the proceeds of the project financing loan from EDC and the balance of approximately $5.5 million from the Company, which the Company has already contributed entirely. \n\n\n \nOnce built, the Hawkesbury facility will be comprised of four different processing departments (shredding, thermal processing, recovered carbon black processing, oil fractionation) and, once fully operational...