IBR Release
International Bio Recovery Corp (C:IBR)
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Last Close 8/17/2006 $0.20
Friday August 18 2006 - News Release
Mr. Ben Van Dyk reports
IBR ANNOUNCES SALE OF PLANT LICENCE IN PALEMBANG, INDONESIA
International Bio Recovery Corp. has reached an agreement to grant to PT Intra Bio Fertilizer, Jakarta, a plant licence agreement for the construction and operation of an IBR plant in Palembang, Indonesia. IBF has paid an initial deposit to IBR for the plant licence with the balance of $600,000 to be paid in September and October, 2006.
Upon receipt of final payment, IBR will issue a plant licence for an IBR EATAD plant having a digesting capacity of 220 tonnes per day of organic waste at 8-per-cent solid content to be built in Palembang. The plant licence agreement will also provide for the purchase of IBR proprietary equipment and payment by IBF of royalties to IBR for a period of 40 years.
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