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$30 Million Gasification Equipment Contract in Mexico

28 July 2011
Scorpex $30 Million Gasification Equipment Contract in Mexico
Emerging Mexican industrial, hazardous and toxic waste disposal services company, Scorpex, has agreed an equipment purchase contract with Kentucky, U.S. based International Environmental Technologies, Inc. (IET).

The contract covers the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology at Scorpex’s site in in the Baja California, Mexico.

Scorpex says that it has agreed to a total purchase price of $30 million. As terms of the agreement.

Under the agreement, $9 million will be paid upon the release of funds from Scorpex’s lender, $9 million will be paid upon IET’s delivery of a certification that the shop drawings and other engineering work for the installation has been completed, $9 million upon IET’s once erection of the steel framework for the two units has been completed and the final $3 million upon the final check out, testing and commissioning.

IET will install the equipment, train supervisory personnel to operate and maintain the equipment, provide a set of spare parts and issue certificates of completion. According to Scorpex, IET has also agreed to provide a warranty for the equipment installed. If malfunction is reported within the warranty period, IET will repair or replace the defective or non-conforming part.

Scorpex says that the IET system that it has selected features a low capital investment, as well as low operating costs and an average construction time of six to twelve months.

Scorpex’s CEO comments, “Signing such a major equipment contract at the dawn of establishing our first waste disposal and processing plant is yet another strong vote of confidence by others who have chosen to join our initiative to address Mexico’s growing demand for industrial, hazardous and toxic waste management.”

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