April 11 (SeeNews) - UK private equity firm Chayton Capital said it signed a Memorandum of Understanding (MoU) with the Montenegrin government and state-owned power utility EPCG to sponsor a feasibility study for a 700 million euro ($763 million) infrastructure development plan in the northern city of Pljevlja.
Chayton Capital, the lead partner of a consortium of various regional technical advisors, is sponsoring the feasibility study for the project which will aim to reduce the carbon footprint in the region through circular economy principles, Chayton Capital said in a press release on Monday.
The project will include the modernisation of the energy generation segment of the Plevlja power plant by installing a multi-fuel boiler that will use biomass and waste materials to produce energy. There will also be an interlinked manufacturing chain of cement, cement bonded particle boards (CBPB), gypsum boards and prefabricated building systems which will utilise by-products from the operation of the power plant.
“We are delighted to be working with the Montenegrin government in this innovative, essential, and strategic project which is for the interest of the whole nation, and enables it to rightly say it is an ecological state,” David Allen, co-founder of Chayton Capital, said.
Chayton Capital is a full-service globally operating investment advisory firm specialising in innovative, high-return alternative investments and asset management solutions. It has been active in the SEE region since 2006.
($ = 0.9171 euro)