September 21, 2017
September 8, 2017
Five years after suspending ongoing work on the elevated road connecting Chennai Port with Maduravoyal, the state government softened its stand and gave its willingness to allow the project to proceed with certain changes in the alignment along Cooum river, but now the project is pending with NHAI.
According to the National Highways Authority of India sources, the original project cost was about Rs 1,815 crore and the delay means an additional expense of at least Rs 100 crore extra from the original plan.
The state government in 2016 suggested a design change for the elevated corridor on the Cooum river bed from two pillar to single pillar to ensure smooth flow of water beneath. Subsequently union minister for road transport and highways Pon Radhakrishnan conducted field inspections and reviewed the project.
From the date to now there is not much progress in the project, said the state official adding that departments like state highways and Chennai Port are waiting for the early completion of the project as it would decongest a good whole part of Central Chennai and western suburbs, the official noted.
“The Maduravoyal project should have been completed at least four years ago. Both the State and Centre has been ducking over the project thus exposing their incapability to complete a road work.
Chennaiites are suffering traffic snarls and the highways and the corporation has failed big time to address the traffic woes,” said former Chennai mayor M. Subramanian.
Efforts to contact NHAI senior officials for the delay in the project proved futile, but NHAI sources maintained that a re-tender has been floated to identify a new consultant to work on the design change and also exit ramps that would come up along the 19 kilometre project.
Source -Deccan chronicle
September 7, 2017
Event-driven projects 'shielding Mena economies'
DUBAI, 21 hours, 28 minutes ago
But over-reliance on oil revenues has caused government spending (and consequently growth) to fall as the oil price dropped, leaving the countries of the region seeking to reprioritise spending towards diversifying their economies and funding social investment, said Mace, an international consultancy and construction company.
Despite a rebound in GCC contract awards in H1 2017 of 14 per cent from a four-year low in 2016, results are still down 20 per cent from the same time last year, showing a challenging market, stated Mace's Mena cost consultancy business in its H2 tender cost report.
This competitive pricing environment has led to relatively stable tender price inflation across the region, ranging from 0.4 per cent in Kuwait to 2.5 per cent in Saudi Arabia, it said.
Event-driven projects and relatively diversified economies have proven a saving grace against this difficult backdrop, as has continued government investment in infrastructure and energy projects across the region, it added.
"Continuing the trend from 2016, the first half of 2017 has been competitive for the Mena construction market due to the low oil prices resulting in restricted government spending across the region," remarked Fergus Rossiter, the director of Mace Cost Consultancy (Mena).
Across the region tender prices have remained relatively stable, however there are considerable variations to be observed within the markets: some regions are reporting a softening in prices, while others experience some capacity constraints which are pushing them up.
Overall, the pricing environment remains very competitive with tender price inflation ranging from only 0.4 per cent to 2.5 per cent for 2017; client organisations are likely to continue to push to get the best possible prices, said Mace in its report.
Lower global commodity prices and increased competition for fewer privately and government financed projects is filtering through to increasingly competitive pricing in many markets, and despite there being plenty of work to fill order books, contractor and consultant prospects are vulnerable to tender periods taking longer to conclude, if at all, especially given recent government spending cutbacks due to the low oil price, it stated.
Contractors on key infrastructure or event-driven projects are less likely to be impacted by this, given the critical nature of these projects to the region’s ongoing economic diversification, however for the mainstream construction market, the competitive environment along with few capacity constraints in labour or materials and low commodity prices are all adding up to clients pressing for lower costs, it added.
According to Mace, factors such as the introduction of VAT across the region from 2018, as well as other taxes which may be levied as governments seek to consolidate their finances, are likely to put upward pressure on tender prices as contractors factor in these additional costs.
This effect will be particularly strongly felt in Saudi Arabia, with the highest tender price inflation at 2.5 per cent reflecting rising costs from newly imposed taxes and removal of subsidies for water and electricity, amongst others, as the Kingdom seeks to consolidate its finances.
Qatar is also expected to see some inflation in tender prices to reflect the greater materials cost risk, as new tenders force contractors to contractually bear the brunt of the costs of the blockade on the country, said the report.
Egypt is not considered in the Meed tender price index, but can be expected to see significant tender price inflation this year of at least 5 per cent, due to both the relatively hot construction market and the massive currency depreciation over the past year.
However some countries are faring better than others, with the UAE and Qatar boosted by their event-driven projects and relatively diversified economies, whilst Saudi Arabia and Oman struggle with reduced oil revenues, said the report by Mace.
Saudi Arabia and the UAE remain the biggest markets for construction projects, with the emirates looking likely to overtake the kingdom as the biggest next year, as their construction industry outperforms, stated the industry expert.
When considered with the completion dates edging closer for key event-driven projects such as the World Cup in Qatar, or the Expo 2020 in Dubai, strong demand-driven factors will counteract some of the damage from reduced government spending to the industry.
Locations less impacted by low oil prices are expected to outperform, with Dubai and Bahrain looking to beat Abu Dhabi or Kuwait. In addition, significant investment in port, road, railway and airport infrastructure across the region continues, with for example $37 billion worth of road projects being pursued across the GCC, it added.-
September 6, 2017
July 4, 2016
A postal road is a road designated for the transportation of postal mail.
According to an MoU inked between India and Nepal, the decision was taken after a similar attempt by the Nepal Government failed to make progress due to negligence of the contractors in 2010.
"The Postal Road in the Terai region of Nepal will boost the country's much awaited road network. Under this current project the NHIDCL will be tasked to guide the construction of 19 postal roads of an outlay of 600 km," one of the top officials at NHIDCL told IANS declining to be identified.
He said the construction of 19 postal roads are under six packages for different parts of the Terai region.
"Basically we will be playing the role of consultants in the entire project. The biddings and all the tendering work of the road construction will be done by Nepal. Our work will basically be to see that the work does not witness failure like earlier," the official said.
According to the official, the decision for handing over the guidance work was decided during the recent visit of Nepal's Prime Minister K.P. Oli to India.
Abhay Thakur, Joint Secretary at the Ministry of External Affairs (MEA), told IANS: "Yes, It has been proposed to the Nepal Government for appointing NHIDCL as the consultant for the postal road projects. Though the precise MoU between the NHIDCL and Nepal Government is likely to be inked next week... all things are decided."
He said contractors from both Nepal and India can do the bidding for the postal roads projects.
The NHIDCL authority, who did not wished to be named, said the postal road has been prioritised for the development of Terai/Madhes region by expanding the road network. The 600 km work is only for the first phase. Both the countries will decide the agenda for the remaining works also."
Stating that the project was being financed by India, he said that the money will be given to Nepal for the execution of different stages of work, which will be over looked by the NHIDCL.
According to sources, the cost of the first phase of road construction in the Terai is estimated to increase to Rs 9 billion from the earlier Rs 7 billion. The total project cost will also rise from the previous estimate of Rs 29 billion. Around 130 bridges have to built along the 600 km highway.
Asked if NHIDCL has been given any other foreign projects, the authority said: "The creation of NHIDCL was for creation of difficult roads. The Government has full confidence on us and we are ready to undertake any project in any part of the world under any circumstance. However, there are no immediate foreign projects as of now."
NHIDCL, created in 2014, has recently been given the task of constructing over 4,000 km of roads in the Northeast and Jammu and Kashmir. The organisation was established after Border Roads Organisation (BRO) and Public Works Department of the states failed to carry out road construction in many remote parts in hilly terrain.
Source - Indian Express
August 4, 2015
January 25, 2012
By Suren Naidoo and Marie Strachan
Source - http://www.iol.co.za/mercury/refinery-closure-fuels-bitumen-crisis-1.1215263
October 11, 2011
The GTP includes plans to extend asphalt roads by over 100000Km across the country said Richard Ntombella, senior sales and technical officer for DuPont Sub-Saharan Africa. He added that improving road infrastructure is integral to the GTP and the economic development of the country.
“With the Road Network as the main supply chain for exporting and importing goods, it is essential that the infrastructure is capable of supporting GDP growth, as it plays a critical role in the development of other industries” said Ntombella at a the DuPont seminar held at Sheraton Addis to introduce its asphalt technology, Elvaloy.
The Asphalt materials previously used in road construction in Ethiopia have failed to withstand the demands made by heavy traffic and weather conditions explained Ntombella. Elvaloy has long been in use internationally as an additive to bitumen to help resist deterioration in the asphalt according to DuPont.
The Addis Ababa Roads Authority (AARA) and the Ethiopian Roads Authority are considering introducing the use of Elvaloy in upcoming road construction programs, according to sources. Both authorities were represented at the seminar conducted by DuPont.
The Dupont subsidiary in Ethiopia, pioneer, has been in business in Ethiopia as a supplier of high yield seeds for the past twenty years according to representatives of the organization.
Source: The Reporter
April 13, 2011
All these days, the industry was busy extracting bitumen from the Oil Sands and now the other way round. Oil from Bitumen and this also happens in Canada, where the largest Oil Sands deposit are sitting ... Pls read the full story.
GreenCentre Canada, a green chemistry incubator located at Queen’s University in Kingston Ontario has spun out a new company, called Switchable Solutions. Switchable Solutions is trying to commercialize a new type of industrial solvent invented by the University’s researchers.
This is not your usual chemistry solvent. Ready? The new chemical mixes with oil in one phase, then when you inject carbonated water into the mix the carbon dioxide reacts with the solvent and presto, the solvent doesn’t like mixing with oil anymore. Now in the second phase, it prefers to mix with water. To separate the solvent from water for recycling the solvent, simply bubble in regular air and the two fluids separate. Way to easy.
Dominik Wechsler, chief product scientist at Switchable Solutions, says, “It’s all done at room temperature.”
Now if you’re trying to extract the oil from bitumen or other natural biomass or even from synthetic products, a lot of process heat is needed, which means lots of natural gas, coal or oil is used. Getting to room temperature from the chills of Canada is much easier than getting to process heat like dry steam past 600º.
Dr. Philip Jessop, the Queen’s university professor who discovered the chemicals explains calling them switchable hydrophilicity solvents. That is to say the chemicals can be easily manipulated to become soluble in water or non-soluble in water depending on how much CO2 is introduced or taken away.
Solvents, many of which are toxic, often highly volatile chemicals create considerable environmental risks. That would be why Jessop’s invention was named one of the Top 20 chemistry breakthroughs in Canada in the past 100 years.
In North America, the market for solvents is roughly $20 billion annually. Industry and people rely heavily on organic solvents in many industrial processes and applications. The short familiar list includes using acetone to remove glue or fingernail polish, hexane, also a neurotoxin, is used to remove stains, dichloromethane is used to remove paint and carbon tetrachloride isn’t even available to consumers its so dangerous.
For the most part solvents are used for separating oils from non-oily substances. In the controversial Canadian Oil Sands the main separation method is to burn huge quantities of natural gas to give the oil-laden sand a steam bath. Producers are experimenting with volatile solvents such as butane as a way to remove the sticky bitumen from sand. If these new phase change chemicals can work at scale major problems involving oil extraction in Canada will be laid to rest.
An unappetizing fact is producers use hexane to extract oils from soybeans, flax seeds and even algae. Removing the hexane or many other solvents from the bio oil requires energy-intensive heating for distillation resulting in a some volume of the solvent escaping as vapor that is difficult to collect and can contribute to air pollution.
How the new chemical process works is simple. Mix it with the bitumen or your biomass and it strips the oil free. Add water to the dissolved potpourri of oil, sand or bio matter, introduce CO2 and the solvent mixes with the water instead, leaving a neat layer of oil on top to drain off.
Then to separate the solvent from the water, simply bubble in air. The water and solvent can then be used over and over again to remove oils from the other impurities. There’s less need to burn natural gas for process heat other than to get to room temperature and no need to create toxic tailing ponds, distillation facilities, or air purification systems.
Wechsler knows the Canadians are on to something big saying, “It’s pretty much a closed-loop system. At the moment we’re still doing lab experiments, but we’re looking for a partner in the oil sands community to move this product forward.” Chances are he’ll get a very welcome meeting when the lab work shows how to build and run a pilot facility.
That’s not all. The chemical also is a solvent for the Dow Chemical trademarked Styrofoam or common polystyrene. This stuff is ubiquitous, and everywhere. From food bottles and shopping bags to foam packing peanuts the whole world piles up tons of this light and still (think cubic kilometers) bulky material, mostly in landfills.
The switchable hydrophilicity solvents dissolve the polystyrene, after which a low-heat filtering process removes food residue and other solid contaminants. What’s left behind is a pure polystyrene powder that can be turned into new products again.
If your sick of collecting other folks bags and bottles and other plastic junk littering the world, it looks now like recycling can work very well indeed on one of the handiest and problematic plastics in history.
This is great, great news.
February 28, 2011
Three Kiwi companies are investigating if waste residue toner recovered from recycled cartridges can be re-used in New Zealand roads, in research that could cut the volume of crude oil imported into the country to make bitumen.
The project, which is a unique collaboration between Ricoh New Zealand, Croxley Stationery and Downer, could result in diverting as much as 15 tonnes of waste residue toner a year away from landfill and into roads.
Early testing has seen the successful inclusion of waste toner, left over from photocopiers and other Ricoh devices, in both bitumen and PMB (polymer modified bitumen). PMB has a high resistance to wear and tear and is used in heavy traffic areas, but the polymer additive is very expensive. The addition of the waste toner to this material is significantly cheaper and also a world first.
Ricoh New Zealand managing director Mike Pollok says the project is a fantastic fit with the company's focus on reducing environmental effects from its business.
"Ricoh is committed to taking responsibility for the whole-of-life impacts of its products, and finding a destination for un-used toner is a great step forward."
The Ministry for the Environment awarded $45,800 from the Waste Minimisation Fund to the project.
Croxley's subsidiary the Toner Recycling Centre (TRC), which operates a cartridge collection and recycling programme for document solutions companies including Ricoh, collects the old toner cartridges.
TRC currently recycles more than 500,000 cartridges annually. Should the project be successful, other manufacturers would be invited into the scheme to achieve the goal of 100 per cent recycling of waste toner in New Zealand.
The trial will continue testing waste toner in both PMB, the preferred option, and asphalt.
Downer, one of the country's leading designer and builder of roads, is helping to fund the research. Should the project be successful, waste toner which is currently sent to landfill could be converted into a useable product, making the cartridges and toner within them 100 per cent recyclable.
July 21, 2010
A $7-billion-a-year Korean construction firm has been contracted by Korea's state oil company to build an oilsands project in northern Alberta, a first for both companies.
GS Engineering & Construction Corp., which builds oil, gas and petrochemical plants, as well as buildings, roads, bridges and harbours around the world, has been awarded the $300-million contract to build the 10,000-barrel-a-day BlackGold Phase 1 project by Korea National Oil Corp.
Regulatory approval for the steam-assisted gravity drainage facility, estimated to cost a total of $400 million to $450 million, was received last year and the company recently filed the paperwork for a 20,000 bpd expansion.
The deal is part of continuing trend by Asian companies to invest in the oilsands to ensure their future energy needs, although there is no current direct bitumen conduit from Alberta to Asia.
KNOC has said it aims to double its worldwide production to 300,000 barrels of oil equivalent by 2012 -- Korea is the seventh largest oil consumer in the world at 2.3 million barrels a day and the fifth largest oil importer.
The BlackGold facility is expected to produce first bitumen by late 2012 or early 2013, and will be operated by Calgary-based Harvest Energy Trust, which KNOC bought for $1.7 billion in December.
"We've been looking at it and now we feel comfortable proceeding with that project," said John Zahary, Harvest president and CEO, adding the technology will be classic SAGD, where steam is injected into the formation with a horizontal well to melt the heavy, sticky oil, which is collected in a second horizontal well.
It's expected to have an average steam-oil ratio of around 3-1, similar to other in situ thermal projects in the area south of Fort McMurray.
The company has not decided whether to use pipeline or truck to get the product to market. "There are number of different options," said Zahary. There is no plan to upgrade the bitumen in-house.
Services sector analyst Jeff Fetterly of CIBC World Markets said the introduction of foreign players in oilsands construction creates an "interesting dynamic" as the pace of resource development heats up in northern Alberta.
"The sense I get and the feedback I get talking to most of the service companies leveraged to the maintenance side or the construction side of the business is there will probably be more than enough work to go around for everyone," he said. "There is a lot of specialist knowledge in terms of understanding where you're developing this project and the region you're working in where the domestic companies are at an advantage, but it's also a function of what the capacity is going to look like."
He pointed out that a foreign general contractor will likely dole out hands-on work to local companies.
But Gil McGowan, president of the Alberta Federation of Labour, said there's no guarantee the project will create jobs for Albertans, adding that unions in Korea have criticized GS's safety record.
"This may end up being the worst of all worlds for Albertans," he said. "We face the prospect of losing jobs in both construction and upgrading if this project is allowed to proceed."
On its website, GS lists one North American office, in Houston, and 10 in Asia and the Middle East, including two in China. It says it had record revenue and earnings in its last fiscal year, generating 569 billion won ($492 million) in operating profits on revenues of 7.8 trillion won ($7 billion).
KNOC acquired the Black-Gold leases in August 2006.
Other Asian stakes in the oilsands are held by Chinese and Japanese interests.
China Investment Corp. has a 45 per cent stake in Penn West's Peace River oilsands assets, Petro China has invested $1.9 billion in Athabasca Oil Sands Corp., Sinopec has a 50 per cent interest in the Northern Lights oilsands project and recently bought a nine per cent stake in Syncrude Canada, while China National Off - shore Oil Corp. has a 16.7 per cent interest in privately held oilsands developer MEG Energy.
Japan Canada Oil Sands Ltd., owned by a Tokyo Stock Exchange-listed company, applied in April to expand its 8,000-barrels-a-day pilot SAGD oilsands project at Hangingstone by 35,000 bpd.
Read more: http://www.calgaryherald.com/business/Korean+firms+team+oilsands+project/3303044/story.html#ixzz0uJ2YcX6Z
September 28, 2009
Relaxation in import procedures, production boost and slackening global demand because of the economic downturn have been cited as major reasons for the stable supply of construction materials in the local market.
Industry sources said adequate quantities of cement were now available with the country’s main producer Qatar National Cement Company (QNCC). The company levies a wholesale price of only QR14 a bag at its production facility in Umm Bab, which has seen production boost in the recent months. Qatar’s cement requirement is estimated between 18,000 and 19,000 tonnes a day.
QNCC’s production has scaled up to 4.65mn tonnes (15,500 tonnes a day) from 3mn tonnes in mid-2008 following the completion of the cement mills (Plant-4) at the company’s facility at Umm Bab.
The balance (about 3,000tons per day) is met through imports, mostly from India and Pakistan.
“Adequate cement is available at reasonable prices in the wholesale market,” said the project manager of a leading Doha-based construction firm.
The sale of cement by unauthorised retailers has already been banned in Qatar. Unauthorised retailers were charging up to QR50 a bag when there was severe shortage of cement in the country until a few months ago.
The relaxation in import procedures has come as a big relief to the construction sector. Authorised construction firms can now freely import cement, sources point out.
Cement shortage in the country was triggered by the construction boom and the first major shortage was seen in 2004. Besides the huge demand caused by the country’s rapid expansion, the lack of import facilities at the Qatari ports triggered the shortage and subsequent higher prices.
The availability of treated sand has also improved considerably though the price has not come down commensurately. The official price tag of washed sand is QR22 per tonne. But one ends up paying much more due to transportation expenses.
However, costs have now come down to about QR80/ton from QR120/ton a couple of years ago, obviously due to the fall in transportation costs.
Qatar Sand Plant is the only producer of treated sand in the state. Washed sand is widely used for concrete works in the country.
Steel prices have already stabilised in the market in line with the international trend.
A bitumen roll costs about QR100 but there is no shortage in the market now, a source said.
Bitumen, a tar-like substance and a by-product obtained during crude oil refining, is used for waterproofing in buildings, bridges and drainage.
It is also widely used for road construction and resurfacing. Qatar mostly meets its bitumen requirements through imports from Saudi Arabia.
August 8, 2009
Petrobank plans to chip in its Saskatchewan Bakken holdings as part of the deal to create PetroBakken, which is why it will end up 64% of the new entity. It will receive a tidy dividend of 96 cents per share a year, but John Wright, Petrobank’s chief executive, expects that to change.
Petrobank, he said, will hand over its stake to shareholders. And when it does, it will be quick and clean.
August 6, 2009
ECD is a manufacturer of thin-film amorphous silicon-based photovoltaic (PV) laminates for new sustainable roofing composites. Its Uni-solar laminates are lightweight, non-intrusive and easy to install compared to heavy and fragile glass-based solar panels. The company says they provide a solid return on investment through a low installation cost and low cost-per-kilowatt-hour of energy produced. ECD currently has the capacity to produce 18 miles of the laminate daily,equating to annual power generation capacity of 178MW
August 4, 2009
“Tenders for construction of the terminal were advertised in the Bundaberg NewsMail on Saturday, and will be open for a period of four weeks,” the spokeswoman said.
Once tenders are received, council will vote on which one to accept.
Bundaberg Regional Mayor Lorraine Pyefinch said it was great to see the project moving forward.
“The upgrade of the airport is a major outcome of Councils' Regional Economic Development Strategy 2008 - 2014,” she said.
“Our goal is to provide significant stimulus to the region's economy - in terms of both industry and the community and this tender process brings us one step closer.”
Currently council is undertaking the final overlay of bitumen on the extended runway.
A Boral bitumen plant was constructed near the airport to provide more than 30,000 tonnes of bitumen to the project.
Weather permitting, the runway should be complete in September, however the airport cannot take passenger jets until the terminal is also upgraded to new security standards.
Council announced in March it would be spending up to $6 million to upgrade the current terminal.
July 30, 2009
"Normally we export fuel oil in monsoon. But we have not done anything so far," the official, who declined to be named, told reporters, adding that if the monsoons continued to elude, the company would not export fuel oil "because there is no lull in construction".
"So far demand for oil products is good because of weaker monsoon," he said. "Bitumen is in full swing."
Last year, HPCL exported about 200,000 tonnes of fuel oil, he said. HPCL runs a 110,000 barrels per day (bpd) refinery in Mumbai and a 150,000 bpd plant at Vizag on the east coast.
The official said due to higher availability of domestic gas,
"We hope to export one million tonnes of naphtha mainly from Vizag. At Mumbai we are maximising gasoline production. Last year NFCL (Nagarjuna Fertilizers and Chemicals) and RCF (Rashtriya Chemicals and Fertilisers Ltd) were taking naphtha from us," he said.
July 22, 2009
“Progress of projects is closely monitored at various levels and steps have been taken to expedite land acquisition, shifting of utilities, obtaining clearances from Railways for Road Over Bridges (ROBs) and action against non-performing contractors,” road transport and highways minister Kamal Nath said.
He said the government was conducting reviews on regular basis of on-going and proposed NHDP projects which would commence within eight months from the date of award.
Nath said the conversion of two-lane roads to four-lane or six-lane was done after examining the flow of traffic. Two-lane roads would be ten metre in width and have traffic up to 15,000 passenger car units.
The minister said polymer modified bitumen is permitted to be used in the construction of national highways to improve the durability of the roads constructed.
Nath said enlightening people through signages and other measures were undertaken to improve safety.
July 17, 2009
PetroChina's state-owned parent company, China National Petroleum Corporation (CNPC), is to invest in a $10 billion refinery project in Malaysia, according to private Malaysian firm Merapoh.
CNPC, China's largest oil and gas producer and supplier, has also agreed to buy the refinery's products for at least 20 years, Reuters reported.
Merapoh Chairman Nazri Ramli told a press conference that “CNPC will take up equity in the project” which will see a 350,000 barrels per day (bpd) refinery built in the northwestern Malaysian state of Kedah.
Environmental approval for the project is expected by September.
Merapoh is responsible for project development and construction which has been slated to commence later this year and be completed by 2014.
This deal will further strengthen CNPC's overseas presence in the downstream segments, especially since its publicly listed arm PetroChina just got approval to acquire a stake in a Nippon Oil refinery following another acquisition which saw it become the controlling shareholder in Singapore Petroleum Company (SPC).
PetroChina last week made a mandatory cash offer for the remaining SPC shares.
PetroChina International (Singapore) Pte. Ltd., recently acquired a 45.51% stake in SPC, representing 234.5 million shares, for S$1.47 billion ($1.02 billion) from Keppel Corporation's Keppel Oil & Gas Services Pte Ltd (KOGS).
SPC has a 50% interest in Singapore Refining Company Private Limited, one of the three major petroleum refiners in Singapore. SPC also conducts terminalling and distribution and trading of crude and refined petroleum products.
Meanwhile, it is understood that two private equity firms, Hong Kong Beijing Star Ltd and Winson Investment Ltd, has already raised funds to buy a 40% stake in Merapoh each.
According to Nazri, Merapoh management would be controlling the remaining 20% stake in Merapoh, which holds the license to build and develop the Kedah refinery.
Aggregate Industries found the leftover liquid could be recycled as a replacement for bitumen and would cut the carbon footprint of the road building industry.
The Leicester firm has said 1.25 million tonnes of bitumen, which is made up of crude oil, is used every year for road building.
The company made the cooking oil discovery during tests at its plant in Newark.
It now wants to patent the invention before using the newly-developed asphalt across the country.
Helen Bailey, 25, research manager at Aggregate Industries, was awarded the Fiona and Nicholas Hawley Excellence in Environmental Engineering Award 2009 by The Worshipful Company of Engineers for the invention.
Ms Bailey said: "I wanted to find an alternative with the same key properties as bitumen in the asphalt mix.
"The solution I developed complies with UK Standards for asphalt while reducing the carbon footprint in resultant products.
"I was delighted to find that the waste fat produced by cooking one of the nation's favourite dishes can be used to hold together our roads."
July 14, 2009
"We expect to have more concessions... we have made known to our partner that we want to increase [the exploration area]," Oliverio G. Laperal, Sr., president and principal executive of Imperial, told BusinessWorld at the sidelines of the company’s annual stockholders’ meeting.
Early this year, the local miner partnered with Indonesian P.T. Aspal Buton Nasional to explore, develop and exploit 1,940 hectares of the total 2,900-hectare asphalt property in Buton Island, Southeast Sulawesi Province.
"Even from the start, part of the asphalt deposit is oozing out. Now the extent [of the reserves] is what we are trying to determine," Mr. Laperal said.
The miner started exploration two months ago.
Imperial Resources gave Nasional $150,000 as a signing check for the deal. It will pay an additional $1 million after the exploration should the mining site prove to be commercially viable, plus a 5% royalty charge on proceeds from the mine.
"We will use all kinds of financial instruments [like] equity, borrowings, underwritings and bonds," Mr. Laperal said.
Imperial Resources earlier estimated the asphalt bitumen mining project to be worth $500 million. Asphalt bitumen is used extensively in road construction.
Mr. Laperal said good prices for asphalt would likely attract investors even amid the financial crisis.
"Because the price of asphalt has exceeded the price of oil starting August last year until now, asphalt mining is profitable and it has become more profitable," Mr. Laperal said.
However, Imperial Resources might find difficulties getting funds from the equity market given that asphalt "is not exactly a traded commodity like gold and copper," Jose Mari B. Lacson, research head of Campos Lanuza & Co., said in a phone interview.
"They have to look for specific investors ... I think there will be some specific investors who are knowledgeable on their product," Mr. Lacson added. In the first quarter, net losses of Imperial Resources rose by 40% to P2.141 million from P1.527 million during the same period last year.
Mr. Laperal said the company might still record losses this year as it continues to spend on exploration. Imperial Resources incurred P7.56 million in net losses last year.
Imperial was originally incorporated in 1969 as an energy firm, but it switched to information technology as its primary purpose in 2000 with the creation of subsidiary Philippine Cyber Colleges Corp., which has schools in Baguio City and Bulacan. It shifted focus to mining two years ago.