Banks DIH Limited is investing over US$1M (G$200M) to boost its energy capacity, recently signing an agreement with Hyundai Company of South Korea for the purchase of a 1.7 megawatt (MW) generator.
Chairman and Managing Director of Banks DIH Ltd, Clifford Reis, speaking at the recent signing ceremony at Thirst Park, said the objective of the purchase was in response to the increased demand for electrical energy arising from the company’s capital expansion programme over the next two years.
In addition, a release from the company said, the new generator will provide more reliable electrical power at a lower cost. It will be synchronised with two existing Hyundai 1.7 and 1.1 MW generators currently in operation at the Company’s Power Generation Plan located at its Caribanks Site.
This new Hyundai generator, which is fuelled by Bunker ‘C’, will replace the Cummins diesel engines that have been in operation for over 30 years.
Hyundai is expected to complete the manufacturing of the generator in November 2011 with the commissioning set for January 2012.
Jong Soo Yang, Marketing Manager of Hyundai signed on behalf of his company.
Also present at the signing ceremony were Banks DIH Ltd. Human Resources Director, Andrew Carto; Operations Director, Michael Pereira; Company Secretary, Terrence Bynoe; Building, Transport and Power Generation Executive, Shabir Hussein; Finance Controller, Deonarain Seepaul, and Corporate Legal Officer, Kavorn Kyte-Williams.
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