Lamor has signed the contract to deliver oil spill response and waste management solutions in Bangladesh

Lamor Corporation Plc          Press release               28 September 2022 at 1:30 p.m. EEST

Lamor has signed the contract to deliver oil spill response and waste management solutions in Bangladesh

As announced on 20 July 2022, the governmental authority of Bangladesh has approved three tenders provided by Lamor to deliver projects for Mongla Port Authority (MPA) aiming to increase the preparedness for oil spill response and the level of waste management in the Mongla Port in Bangladesh.

The contracts relating to these projects have been signed on 28 September 2022 and the projects will be added to the order backlog in the third quarter of 2022. The total value of these three equipment projects is approximately EUR 25 million. The projects are estimated to be delivered within 18 months, and a major part of the revenue will be recognised for 2023.

“Lamor has a uniquely talented and experienced team of professionals, partners, and local representatives, who bring together all our assets globally to focus on the best solutions for challenging operational requirements. This creates trust with our customers and allows them to feel confident and secure. These projects will also have a key role in expanding our footprint in the Asian market”, says Stephen Reilly, Vice President Global Business of Lamor.

The first project is for oil spill response vessels, including rapid response oil spill equipment. The second project contains Bangladesh’s first-ever port reception facility to handle and process various waste from vessels calling on the Mongla port in accordance with the International Convention for the Prevention of Pollution from Ships (MARPOL). The third project is for a technically advanced, 24-metre-long MARPOL waste collection vessel that can pick up waste from ships at anchorage and transport it to the port reception facility. This vessel is also equipped with oil spill response capabilities.

“The Mongla Port is situated in one of the world's most beautiful areas, and there is a UNESCO World Heritage site. Lamor is proud to be part of increasing the preparedness level and supporting waste management activities and material recycling in this unique port area in beautiful Bangladesh. These projects are the first phase of Bangladesh's massive logistics infrastructure overhaul, and we expect the project to continue, among others, in Chittagong, over the coming years”, comments Mika Pirneskoski, CEO of Lamor.

Further enquiries

Mika Pirneskoski, CEO, Lamor Corporation Plc, tel. +358 40 757 2151

Lamor in brief

Lamor is one of the leading global providers of environmental solutions. Lamor provides its customers with equipment used for oil recovery, waste management and water treatment as well as versatile environmental solutions and services, such as clean-up and preparedness services related to oil spill response and oil spills, services for the treatment of waste and tailored and adapted water treatment solutions. Lamor operates together with its local partners, offering a wide selection of solutions, which can be tailored according to the needs of each customer, and aiming to clean the world, for which the company has worked since its incorporation. The company's share is listed on the Nasdaq First North Premier Growth Market Finland marketplace maintained by Nasdaq Helsinki under the trading code LAMOR. Further information: www.lamor.com