www.zfenglish.com - Last update 14:23
Prefab Invests EUR5M In 10 MW Cogeneration Plant
04.14.2011
Romanian construction materials maker Prefab Bucuresti (PREH.RO) Thursday said it will invest EUR5 million in a cogeneration plant, to supply one of its factories, while the excess of 4 MW would be delivered to the national power grid.
Romanian construction materials maker Prefab Bucuresti (PREH.RO) Thursday said it will invest EUR5 million in a cogeneration plant, to supply one of its factories, while the excess of 4 MW would be delivered to the national power grid.
The plant will mainly serve the power needs of Prefab's autoclaved aerated concrete (ACC) factory in Calarasi. Japanese group Kawasaki won the auction held on April 7 for the plant's construction, and will implement the system by mid-2012.
"Trough this project, the factory will achieve an yield of 30% in production and energy costs (…).
The company will apply for EU funds worth 50% of the project," Prefab said in a news release.After completion, the company could receive a high energy efficiency bonus worth EUR1.2 million per year over an 11-year interval.
The power plant will use 60% of its output for internal consumption, while the remaining output will be sold on the energy market.
Prefab was privatized in 1998 and its shares were listed on the first tier of the Bucharest Stock Exchange in 2010. Thursday, Prefab closed down 1.86% at RON2.11 per share.
Prefab is 80.7% owned by businessman Marian Milut through Romerica International. Regional investment fund SIF Muntenia (SIF4.RO) holds a 13% stake in the company.