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Ecoslops

CR
Bloomberg   ALESA FP
Other Energies  /  France  Web Site   |   Investors Relation
The cleantech making oil residues green
Latest16/03/2017

Letter of Intent with the Egyptian authorities on Suez Canal feasibility study

Fact

Ecoslops has signed a Letter of Intent with EGPC (Egyptian General Petroleum Corporation), through its subsidiary SSCO, in order to study the feasibility of a residue collection and recycling plant in the region of the Suez Canal.

Ecoslops and EGPC/SSCO have agreed that, following the feasibility study, they will both invest in the joint-venture that would be created, with Ecoslops as a major shareholder and project manager.


Analysis

Around 10% of the global maritime traffic passes through the Suez Canal (more than 17,000 vessels per year), and the figure is rising with the canal extension.

The partners aim at identifying the slops collection and recycling services that could be offered to the ships going through the Suez Canal. Egyptian authorities seek to enhance the services proposition of their infrastructure: in this backdrop, Ecoslops would help to improve its attractiveness.

We currently expect three new projects to be signed by the end of 2017, including Marseille.


Target
Upside 82.8%
Price (€) 12.9
Market Cap (€M) 56.9
Perf. 1W: 3.61%
Perf. 1M: 13.2%
Perf. 3M: 10.7%
Perf Ytd: 13.2%
10 day relative perf. to stoxx600: 3.94%
20 day relative perf. to stoxx600: 12.0%
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