Search

Socium Development Company - Weekly Report - Week #32

Updated: Aug 11


Please find the Weekly Report from Socium Development Company, involving updated information about the Project development and production at Socium Development's Bangkok Production Facility.

-


SUMMARY REPORT - WEEK #32

Socium Development Company Limited

Sukhumvit Soi 36, 85 Napha Sap Soi 5,

Wattana. 10110, Bangkok, Thailand 10.8.2020 — For Shareholders, Partners and Associates of Socium Bangkok Company Limited (SBKKCL), a subsidiary of Socium Development Company Limited (SDCL),

Week #32 and the few earlier days leading to it, have seen our Operational Team begin the Waste Plastic To Fuel production operations with two production units at the Bangkok production facility.







At the same time the Construction Team has started clearing- and renovation works at the site, together with preparations for the installation of the 3rd production unit, scheduled for the end of the month.

Renovations and improvement works are expected to continue for approximately 40 more days. During this time the facility will be operated continuously, while undergoing a “Soft Launch Period”, during which production is steadily increased towards full capacity. The Company continued to attract investments from International private equity investors during the week. Week #32 and the beginning of the “Soft Launch Period”, have included only a few actual production days, due to site, machinery- and raw material preparations, during which time the following has been achieved:

Approx. amount of waste plastic removed from the environment : 26 500 kilos Over 750 peoples annual plastic waste processed* Approx. amount of fuel produced : 17 500 liters Approximate conversion rate : 65% *This example is based on an estimated amount of approx. 35 kilos per year, which is produced by an average European Union Citizen: Please click here for more information about this study.

Our most important tasks for the following weeks are to establish and implement teams and procedures, operate the production units continuously, while the site is undergoing renovations, install successfully the 3rd production unit and to increase the general operational standards of the facility to International levels. We are also actively working with various raw material suppliers and fuel offtake partners.

Additionally, I would like to note that Week #32 saw a positive price development on the International Oil Markets, during which the Brent Light Sweet Crude reached its highest price (+45 USD per barrel) since the beginning of the Covid-19 pandemic.

To learn more about Socium Development Company and about our operations, please contact us at : info@sociumdevelopment.com


With kindest regards,

Jussi Veikko Saloranta

Chief Executive Officer Socium Development Company Limited SociumDevelopment.com




1,191 views1 comment

Socium Development Company Limited. All Rights Reserved. © 2020

  • Facebook
  • Linkedin
  • Instagram
  • Twitter