(Alliance News) - Oracle Power PLC on Wednesday said its chief executive was copied into a letter which demonstrated local government backing for the Thar Block VI coal project in Pakistan.
CEO Naheed Memon was copied into a communication between the minister of energy for the government of Sindh, a province in Pakistan, and the chair of the China-Pakistan Economic Corridor.
Oracle said the letter "confirms continued and strong support for the development of Thar Block VI".
Memon said: "Oracle recognises and gratefully acknowledges the support it is receiving, as is evident in this letter received from the office of the minister of energy for the government of Sindh. The level of support now witnessed from these official channels is noteworthy and a testament to the quality of our work on the ground."
Oracle shares were 7.7% lower at 0.72 pence each in London on Wednesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Oracle Power (ORCP)