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Posco Enters Development for Utilization of Domestic Wastes
11/21/2007 - Posco will work with Busan Metropolitan City to develop a business capable of turning domestic wastes into fuel that can subsequently be used to generate power, in the first application of this technology in Korea.
Posco has signed the Memorandum of Understanding (MOU) with Busan Metropolitan City to support a business that will turn domestic wastes into fuel that can subsequently be used to generate power. The project is the first application of this technology in Korea.
Beyond reclamation and incineration of domestic wastes, Posco, the government, and the Busan Metropolitan City will invest a total 180 billion won in the business to recycle the wastes into fuel and generate electricity from them.
Posco will sort out the average 700 tonnes of domestic wastes collected daily by Busan, then will recycle the metal wastes and solidify the flammable wastes into fuel for the power station. For this work, Posco plans to build a sorting-out facility, a molding facility, and a power-generating facility around the Saenggok landfill in Busan by 2010.
In his commemorative address, President Seok-Man Yoon expressed his gratitude to Busan for its decision to adopt new technologies and facilities that have not yet become commonly accepted.
Posco expects to generate 16.6 billion won of annual revenue by producing 25 Mw of electricity per hour, while securing 125,000 tons of carbon dioxide emission right promises that are worth 18.5 billion won.
