The Integrated Circular Maritime Economy System or ICME™ System will be implemented after the feasibility study stage to ensure the long-term viability of the project as a business. The feasibility study is scheduled to start in Q4 2022. The project is planned to start in Q1 2023 – Q4 2024. To provide a clear understanding, we provide the project’s implementation process as seen below:
The Implementation phase for a period of 0 – 1 year at a cost of USD 30.54 million comprises of:
• Infrastructure Development and Water Treatment Unit System
• Mineral and Salt Extraction Unit System and Infrastructure Development
• Renewable Energy Infrastructure and System Development – Solar Power and Wind Power
• Construction of Supporting Facilities for the Industrial Compound mentioned.
The Acceleration and Business Development Phase will be carried out in year 2 – 4 with
the goal to:
• Increase production capacity and quality of goods produced for the following products:
o water and its derivatives
o industrial salt or its derivatives
o minerals or their derivatives
o and electricity
• Increase marketing network both domestic and international.
The Scale Up Phase 1 will be carried out in year 4 with a total cost of USD 1.88 million
includes:
• The Development of domestic and export commodities oriented Fish Farm Unit
• Construction of Hydroponic Unit for local and domestic needs
• Additional Solar Boat Unit for Fish Farm operational support and other uses.
The Scale Up Phase 2 will be implemented in the 5th year with a total cost of USD 356 thousand for the realisation of:
• Maritime R&D Unit
• Edu-Tourism Unit in traditional designed cottages.