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Company Overview
| Capitalization |
Authorized |
100,000,000 |
Issued |
21,695,000 |
| |
Investment |
12,683,000 |
Free trading |
9,091,000 |
|
| Fenway International Inc. ("FWIN") is a publicly traded company incorporated in Nevada, USA. Fenway purchased all of the assets of Fenway Resources Ltd. and is therefore the lead proponent in the development of a large portland cement plant in the Philippines. The Company's cement project is strategically located in the heart of the Asia Pacific region on the Island of Palawan in the Philippines. The Company's objective is to finance, construct and operate several large scale portland cement plants in the highly populated and economically depressed regions of south-east Asia that have industrial growth potential. |
| Field work on the Palawan Cement Project (PCP) began in 1992. Approximately US$5,000,000 has been spent on project development work including: |
| - Pre-Feasibility Study |
Dr. Manu Patel & Associates |
| - Feasibility Study |
Kilborn Engineering Pacific Ltd. |
| - Environmental Impact Assessment (EIA) |
SNC Lavalin Inc. and GAIA South Inc. |
| - Environmental Impact Study & Report (EIS) |
SNC Lavalin Inc. and GAIA South Inc. |
| - Financial Valuation Assessments |
GBC Systems Inc. |
| - Philippine Department of Trade and Industry |
Registration |
| - Palawan Council for Sustainable Development |
Endorsement |
| - National Commission on Indigenous Peoples Certificate |
IP Endorsement |
| - Mineral Production Sharing Agreement |
DENR and MGB approval |
|
| Palawan Cement Project development has been prefaced by "Preliminary Agreements" with internationally respected companies such as: |
| Bilfinger and Berger (Germany) |
Engineering design and construction |
| Thyssen Krupp Polysius (Germany) |
Cement manufacturing equipment supplier |
| Rolls Royce Power Corporation (England) |
Electricity supplier |
| Dresdner Bank (Germany) |
Loan and Export Credit |
| Hypo Vereinsbank (Germany) |
Loan and Export Credit |
|
| Capital costs to construct and commission a 2,500,000 tonne per year portland cement plant in Palawan is estimated to be US $380,000,000. Planned funding sources are: |
| Equity Investment |
$100,000,000 |
| Bank loan |
$126,500,000 |
| Export Credit |
$ 93,500,000 |
| Power supplier up to |
$ 60,000,000 |
|
| Preliminary Engineering is planned for completion in 2004 with construction to commence in 2005. Partial production is planned for 15 months after commencement of construction and full production is anticipated within 30 months. The large scale of operation using new, modern cement manufacturing equipment will produce high quality cement at industry-low costs. Recently cement prices in The Philippines increased from approximately US$56 per tonne to US$83 per tonne. |
| * Updated July 8 2004 |
|
