The Minister of Commerce, Industry and Trade, António da Conceição, and the Chairman of the firm Shun Hsin Investiment & Construction Ltd, from Taiwan, Lin Gi Hsiung, signed, on February 24th, at the Ministry’s building, a Memorandum of Understanding, with the aim of conducting feasibility studies about waste treatment in Timor-Leste.
According to the Minister António da Conceição, “this is a major project with a foreseen budget of one million, one hundred and fifty thousand dollars, and does not imply any financing from the Government of Timor-Leste. The amount is financed through a Build-Operate-Transfer (BOT)*, for 30 years, after which the control is transferred to the Government of Timor-Leste”.
The Director of the firm Shun Hsin Investiment & Construction Lda, Ana Paula de Araújo Nunes, referred that “this project guarantees the protection of environment and gives a solution for the waste problem in Timor-Leste, considering that the use of Peleburan system may transform waste in electrical energy”.
Present at the ceremony were the Secretary of State for Environment, Nominando Soares Martins, the Secretary of State for Industry and Cooperatives, Filipus Pereira, the Secretary of State for Industry, Ricardo Cardoso Nheu and the President of the Firm Shun Hsin Investiment & Construction, Ltd, Lin Gi Hsiung.
*Build-Operate-Transfer (or BOT) is a type of project financing in which the private sector has permission from the public sector to finance, build and operate during a period in time, after which the control is transferred to public administration.