LONDON (Alliance News) - GCM Resources PLC on Tuesday said engineering construction firm Sinohydro Corp Ltd will undertake a prefeasibility study on mine-mouth coal fired power plants at the Phulbari coal & power project in Bangladesh.
The exploration company said these power plants are expected to generate up to 4,000 megawatts in addition to the existing 2,000 megawatts power plant proposal.
Sinohydro is the flagship company of Power Construction Corp of China Ltd, which provides one-stop services covering planning, survey, design, construction, investment and operation in energy & power sectors.
"The company has a strategy to partner with large credible engineering firms to package together a combined mine and ultra-supercritical thermal power plants generating 6,000 megawatts," said Executive Chairman Datuk Tang.
"The agreement announced today is another step in that direction," added Tang.
Shares in GCM Resources were trading 8.2% higher on Tuesday at 19.07 pence each.
GCM Resources (GCM)