April 26, 2019 (MLN): Matco Foods Limited on Friday released its quarterly progress report, which states that the following progress has been achieved on the implementation of the expansion of the Rice Glucose Project during the quarter ended March 31, 2019.
- Pre-cleaner and drum pre-cleaner has been installed
- Installation of 412.92 KW on-grid solar system has been partially completed and the system is in testing phase
- Installation of the following is in progress
- Bucket elevator
- Commercial Bin E-series
- Pre-engineered building
- Fabrication work of stainless steel tanks has been completed
- Screw Air Compressor with standard accessories has been delivered at site by Rastgar & co.
- Installation of Industrial Drying Oven has been completed
- Designing of electrical panels have been completed and panel board have been ordered to RA Engineering Company
- Extension of gas pipeline have been completed by SSGC however, in-house work on gas supply and captive power generation is remaining
- Chemical tanks has been delivered by Suria Engineering at site and foundation work has been started for chemical tanks
- Enhanced load capacity from 574 KW to 1264 KW from K-Electric has been started to receive
- Third and final shipment of plant from Beijing Meckey Engineering Co. has been arrived at site and following work is in progress
- Construction of working platforms and ladders
- Inter-connecting piping
- Installment of pumps and other machinery
- Installation of Ion Exchanger Tanks (integral part of rice glucose plant) has been completed
The report issued by the Company further stated that the initial project cost was estimated by taking US Dollar at the rate prevailing at that time. However, the devaluation of Pakistani Currency and other stringent economic measures will likely to increase project cost by 15% to 20%.
Moreover, the management of the Company believes that the project will be completed by bridging the gap in the cost with company’s own resources. It is expected that the installation will be completed by June 2019.
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