SALT LAKE CITY, Jan. 8, 2013 /PRNewswire/ -- Further to our Shareholder update December 10, 2012; Garb Oil & Power Corporation (USOTC: GARB) has identified two, suitable locations to develop an e-Waste treatment center in the Las Vegas, Nevada Metropolitan area (MSA). For a number of reasons, Las Vegas is a natural choice for an e-Waste recycling plant. The Las Vegas, Nevada MSA is home to over 2,000,000 people with an annual visitor volume of approximately 40,000,000. As a major logistic hub, because of its strategic location along the Interstate 15 Freeway, a Las Vegas plant would gather input material from Southern California as well as cities located in Utah. Although Las Vegas is a city of approximately 2,000,000 residents, its annual waste deposited in the area landfill is equivalent to a city of over 5,000,000 because of the vast consumption exhibited by the local and visiting populations. Additionally, Las Vegas has approximately 27,000,000 people within a 300-mile radius from which to draw source material. The State of Nevada is keen on bringing new, nongaming industry to Nevada, and a number of possible incentives should be garnered due to the employment base and economic impact the plant will deliver.
Two suitable locations have been identified. Location one is situated on an approximate seven-acre parcel with one building encompassing 10,000 square feet with existing rail spurs able to receive e-Waste material from the greater Los Angeles region. The building will require expansion to approximately 40,000 to accommodate the first phase of the e-Waste facility. Location two is approximately 20 acres and is situated approximate to the Harry Reid Technology Park in the Southwest area of Las Vegas. Garb will finalize decision on which property within the month.
Garb President/CEO John Rossi stated "This has been a combined effort with our Joint Venture partners and the choice was not easy, as many fine properties were available."
The Recycling plant will have capacity at maturation to process 42,000 metric tons of material across all e-Waste streams including large household appliances (LHA's), LCD Monitors and a complete Plastics processing line. The total build-out of the Las Vegas e-Waste recycling plant is estimated to be $34,000,000. Design, Construction and Equipment installation period is estimated at 15 months from ground breaking, and full input material to reach plant capacity is estimated by the 21st month following commencement.
About the Company: Garb Oil & Power Corporation (Garb) was founded in 1972. The Company is a pioneer in the recycling and waste industries. The Company's founder invented, patented and produced the first shredder in the world designed specifically for shredding tires. This shredder revolutionized the waste tire world. This tradition for innovation, now stemming over 40 years, is a key founding principle upon which Garb thrives. The Company continues to infuse this same tradition of enthusiasm and innovation into its operations, and the Company's founder's trademark commitment to breaking new ground will carry on into the future. The new industries of Waste Rubber, Electronic Waste (E-waste) and Waste-to-Energy are the new areas upon which Garb is currently focusing its innovative spirit. Management believes that the integration of Garb's ClosedCycle™ principle and the attainment of a NoWaste™ process in these industries are essential for Earth in the 21st century.
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When used in this announcement, the terms "GARB", the "Company", "we", "our", and "us" refers to GARB OIL & POWER CORPORATION, a Utah corporation.
SOURCE Garb Oil & Power Corporation