Global Green Growth Institute (GGGI) director-general Frank Rijsberman has announced that the Chip Mong Insee Cement Corporation has expressed an interest in establishing a refuse-derived fuel (RDF) production facility that will process legacy waste at the capital’s Dangkor landfill.
Rijsberman announced Chip Mong’s submission during a recent “Green Growth Night” press conference.
“GGGI has conducted pre-feasibility study on the RDF facility and Chip Mong has conducted a full feasibility and confirmed the financial feasibility of the project,” he said.
Headquartered in Seoul, South Korea, the GGGI is "dedicated" to supporting strong, inclusive and sustainable economic growth in developing countries and emerging economies. It currently boasts 45 member countries, with operations in Africa, Asia-Pacific, Europe, Latin America and the Middle East.
“We are pleased to have made a connection with Chip Mong. We have conducted feasibility studies, and need to make a final decision on investment. This is a good example of how we work. We bring an idea, and then seek out investors,” explained Rijsberman.
He said that the proposal would be worth about $15 million.
Sanka Seneviratne, head of the Chip Mong Ecocycle Business Unit of Chip Mong Insee Cement Corporation, told The Post that other companies – from jurisdictions such as Singapore, mainland China and Hong Kong – have also submitted investment proposals.
“We submitted a proposal to the government, but it was not only us. I believe around 20 proposals were submitted,” he added.
According to the Chip Mong Group’s website, Chip Mong Ecoycle signed an MoU with the Ministry of Environment in March 2021 to provide sustainable solutions to the disposal of hazardous industrial waste, in addition to old tires, plastic and so-called “e-waste”. Managing the disposal of hazardous waste has increasingly become a challenge, as Cambodia becomes ever more industrialised.
In December 2019, the Chip Mong Insee Cement Plant launched an industrial waste management facility to provide an environmentally-friendly solution to the disposal of industrial waste. The project has the capacity to process around 10 tonnes of industrial waste – from garment, footwear and other large industries – per hour, equivalent to around 7,000 tonnes per month.
A GGGI statement said it has supported the government since 2012, assisting its transition to a model of economic growth that is environmentally sustainable, climate-resilient, and socially inclusive.
“The institute works closely with the government, especially the Ministry of Environment, to mobilise green investment for sustainable urban development in the areas of sustainable energy, waste management, and sustainable mobility,” it added.
“The GGGI is also working closely with the Ministry of Economy and Finance and the Securities and Exchange Regulator of Cambodia on advancing thematic bond initiatives in Cambodia,” it added.