Greka Engineering & Technology Ltd Operations Update (8660A)
February 25 2014 - 7:00AM
UK Regulatory
TIDMGEL
RNS Number : 8660A
Greka Engineering & Technology Ltd
25 February 2014
25 February 2014
GREKA ENGINEERING & TECHNOLOGY LTD
("Greka Engineering" or the "Company")
Operations Update
Greka Engineering & Technology Ltd. (AIM: GEL), the
unconventional gas sector engineering and technology business with
pipeline, gas compression and power generation assets in China,
announces the following operations update for the second half of
2013.
Manufacturing
-- Sales of 84 CNG dispensers and 2 wellhead compressors in H2 2013
-- Final certification received for the manufacture of LNG
dispensers with production to commence in the first quarter of
2014
-- Addition of 30 new customers during 2013, a 39% increase over 2012
-- A total of 107 customers in China
-- No lost time due to injury or accident in 2013
Gas Compression
-- Gas processed in H2 2013 was 15,144,139 cubic meters
o CNG: 5,886,289 cubic meters
o PNG: 9,257,850 cubic meters
-- No lost time due to injury or accident in 2013
Power Generation
-- Electricity generated in H2 2013 was 7,439,125 kwh
-- Sold volume was 5,203,934 kwh
-- Self-consumption volume was 2,235,191 kwh
-- No lost time due to injury or accident in 2013
Infrastructure
-- Total pipeline constructed in H2 2013 was 0.40km
-- Sub-pipeline constructed in H2 2013 was 0.75km
-- Power lines built in H2 2013 was 0.50km
-- Successfully added 2.75km of gas gathering pipeline during 2013
-- 34km of well gas gathering pipeline at the end of 2013
-- No lost time due to injury or accident in 2013
Randeep S. Grewal, Executive Chairman of Greka Engineering,
commented:
"It has become increasingly clear that Greka Engineering &
Technology provides a comprehensive solution to companies looking
to take full advantage of opportunities offered by the rapidly
growing unconventional gas market. Creating a one-stop-shop to the
many entrants into the sector, that can overcome challenges of
creating a cash flow, is the immediate and clear opportunity for
us".
For more information of Greka Engineering, please visit the
company website at: www.grekaengineering.com.
Contacts:
Greka Engineering
Randeep Grewal, Executive Chairman +852 3710 0168
Smith & Williamson
Nominated Adviser
Dr Azhic Basirov / David Jones /
Ben Jeynes +44 20 7131 4000
RFC Ambrian
Broker
Sarah Wharry +44 20 3440 6800
WH Ireland
Broker
Tim Feather +44 113 394 6600
Walbrook + 44 20 7933 8780
Media & Investor Relations get@walbrookpr.com
Paul McManus / Guy McDougall
About Greka Engineering and Technology
Greka Engineering & Technology Ltd., (AIM; GEL) was demerged
from Green Dragon Gas Limited (AIM; GDG) via a dividend in specie
and was admitted to trading on AIM in September 2013.
Greka Engineering offers turnkey solutions to over 90 upstream,
midstream and downstream gas suppliers. The Company's technologies
include Compressed Natural Gas/Liquefied Natural Gas (CNG/LNG)
compressor equipment, CNG retail dispenser equipment and CBM
wellhead extraction technologies. The Company also supplies
proprietary Integrated Circuit Card Point of Sale (ICC POS) and
Supervisory Control and Data Acquisition (SCADA) software and
hardware solutions for the remote management of transmission
systems, power facilities, vehicle management and retail
services.
In addition, the Company invests in, operates and maintains
wholly owned assets for its customers in return for service
contracts based on the volume management.
The Company has historically completed several Engineering,
Procurement, Construction and Management (EPCM) contracts including
the design, construction and management of gas gathering systems, a
gas pipeline in Shanxi Province to the China West-East pipeline,
the installation and commissioning of a 10MW gas-fired power
facility in the Shanxi province and the construction of CNG retail
stations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBELFLZLFLBBV
Greka Engineer. (LSE:GEL)
Historical Stock Chart
From Apr 2024 to May 2024
Greka Engineer. (LSE:GEL)
Historical Stock Chart
From May 2023 to May 2024