Saskatchewan-based clean technology Phase Separation Solutions Inc (PS2), a subsidiary of West Mountain Capital Corp, has announced the signing of a Joint Venture Contract with Zhoushan Nahai Solid Waste Central Disposal Co. (Nahai) of Zhoushan, Zhejiang Province, China.
The two companies will operate a joint venture to design, engineer, construct and operate an oily sludge waste treatment facility to be located in Zhoushan to receive, process and recover oil from oily sludge waste generated from oil storage operations and oil tanker cleaning activities in that region.
Nahai currently operates a number of waste oil related facilities and has direct access to the oily sludge market. The PS2/Nahai facility is expected to be operational in early 2011.
'Our relationship with Nahai is developing very fast and both the engineering and planning for our facility is being completed ahead of schedule' said Paul Antle, President and CEO. 'Nahai are responding quickly by providing the resources necessary to expedite the work. We are very pleased with the progress to date.'
'This [Joint Venture Contract] satisfies a major step in the process of doing business in China' added Antle, President and CEO, 'the Joint Venture Contract is the legal document that outlines, in significant detail, how PS2 and Nahai will operate the business.'
Nahai is a leader in the management of hazardous waste and oily sludge based in Zhoushan, China. The company has excellent infrastructure including an oil storage facility (2,500,000 tonnes), a waste oil recovery facility (capacity of 1,000,000 tonnes per year), bilge water treatment process (20,000 tonnes per day) and a solid waste destruction facility (20 tonnes per day).
Nahai possesses the only waste management processing permit in Zhoushan and is strategically located on the coast of the East China Sea with excellent accessibility to the traditional shipping lanes. Zhoushan is an island, port and tourist city newly developed in China and is in the center of the four largest fisheries in the world.
PS2, an established Canadian environmental solutions company, specializes in the thermal treatment of a variety of hazardous and non-hazardous waste streams.
Based in Wolseley, Saskatchewan it employs an indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge and waste converting much of it into reusable oil and synthetic natural gas that in turn it uses to sustain the process.
This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. PS2's management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and internationally throughout 14 countries.