26th Sep 2013 07:00
26th September 2013
Nature Group PLC
("Nature Group" or the "Company")
"Nature Group wins tender to build and operate
Port Reception Facility in the Port of Sohar, Oman"
Nature Group PLC (AIM: NGR), the leading maritime and offshore waste specialist, is pleased to announce that it has been awarded an exclusive long term licence to build and operate a maritime waste collection service in the Port of Sohar, Oman.
Together with the local waste management company, Al Ahlia Environmental Service LLC, it will form a 50/50 joint venture (the consortium) that will build and operate a waste processing plant, and service the vessels in the port by collecting their waste.
The collected waste will be treated in a modern waste treatment plant that processes all MARPOL waste classes and the clean water recovered after treatment will be re-used for industrial purposes. The facility is expected to make a significant contribution to turnover and profit from year 2015 and onwards.
The Port of Sohar is a deep sea port in the Middle East situated in the Sultanate of Oman, 220km northwest of its capital Muscat and is strategically located just before the Strait of Hormuz. Hundreds of millions of dollars have been earmarked by the Government of Oman and the Port of Rotterdam, in a joint venture, for investment in a host of new initiatives designed to reinforce Port of Sohar's position as the Gulf's preeminent gateway. The Port has seen a substantial increase in maritime traffic and a rapid expansion of the petrochemical cluster, with further growth anticipated in the coming years. The Sohar Industrial Port Company has awarded an exclusive licence to the consortium to run the service in Sohar Port. The operations of the consortium will be financed with the implementation of an indirect waste disposal fee system by the Port Authorities. This system ensures a minimum turnover for the facility and therefore reduces Nature's financial risks for investing in this new location significantly.
With the investment in this joint venture, Nature is implementing its growth strategy to become a global supplier of maritime waste services, providing its customers with an efficient and sustainable solution to dispose of their waste in the major shipping hubs in the world.
Andreas Drenthen, the CEO of Nature comments:
"Starting operations in Sohar enables Nature to service our customers in one of the fastest growing ports and industrial clusters in the Middle East and we foresee a further expansion in the region to profit from the rapid industrialisation of the area and therefore the need for proper service and environmentally friendly technologies.
Andre Toet, the CEO of The Port of Sohar comments:
"We are very happy with the consortium starting its operations in Sohar and providing us and our customers with added value in the maritime services cluster and a proper service for the discharge of MARPOL waste".
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For further information contact:
Nature Group PLC
Nigel Sandy, Chairman Tel + 44 1208 816 744
Andreas Drenthen (CEO) Tel:+ 31 181 291 144
Koen Zuyderwijk (Business Development Director) Tel: +31 181 291 144
WH Ireland Limited
James Joyce / Nick Field, Nominated Adviser Tel 0044 207 220 1666
Seb Wykeham / Ruari McGirr, Broking Tel 0044 207 220 1666
Hermes Financial PR
Chris Steele Tel 0044 7979 604 687
Trevor Phillips Tel 0044 7889 153 628
About Al Ahlia:
A joint venture of Khimji Ramdas, an Omani based consortium active in several industries and Ramky Group, is one of the worlds biggest waste handling and processing companies from India.
They are also active in municipal and hazardous waste handling, storage and processing in several locations in the Sultanate of Oman.
About Nature Group:
A company with more than 25 years' experience in waste water treatment and a unique corporate social responsibility (CSR) strategy that enables us to be truly a part of Nature and responding to the ever expanding and demanding legislative framework.
Nature Group combines port reception services and facilities, offshore treatment services and the latest sustainable waste treatment technologies in a steadily growing global network. Nature Group is traded on the AIM market, (ticker: NGR). www.ngrp.com
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