Boston, MA 08/12/2014 (wallstreetpr) – Bioamber Inc (NYSE:BIOA) released the financial results of the second-quarter last week. The management updated about the progress of its Sarnia plant during the results. The biobased succinic acid plant based in Sarnia, Ontario is expected to complete in early 2015. The construction is going at the expected pace and is in within the budget.
The progress
CEO, Jean-Francois Huc stated that the pace of construction is good, and in fact has picked up in the last quarter. There are almost 100 workers onsite each day. Bioamber Inc (NYSE:BIOA) is done with the warehouse part and is now working on the office building. The work of production facility is right on track. The company is done with more than 85% of the detailed engineering to date. It will look to complete the piping, instrumentation and electrical work in the coming months.
The detailed design
Huc mentioned about the detailed design of the Sarnia plant. It is divided into 90 different engineering sub-parts for the purpose of bid execution. Bioamber has already issued 86 work packages. Almost three out of the remaining four work packages are sent out for bid. It also included minor packages like site paving. Apart from the issue, Bioamber Inc (NYSE:BIOA) has completed the delivery of the 78 pieces of equipment. The rest issued pieces will be delivered in the coming weeks.
Additional information
Huc further disclosed the information on the plant. Bioamber Inc (NYSE:BIOA) brought up six new employees in the commissioning and start-up team. It is running the classrooms in Sarnia for the purpose of operator training. Bioamber has carefully planned the standard operating procedures for the upcoming plant and the parameters related to it. It is focusing on the factors like the safety training, IT system and the maintenance plan. Bioamber aims to train the operators on the supply chain, setting up procurement and on how to control logic of the plant. Training will remain the key in the next quarter.
