RE: Joint Development Agreement21 Oct 2025 09:15
"the journey to de-risk Oracle in terms of its major coal project. Indeed, it could be argued that this process has been ongoing since the present CEO Naheed Memon came on board early last year.
Along with an obvious determination as witnessed in her interviews, her CV is a clear asset. It includes Chairperson of the Sindh Province’s Board of Investment – where the project is based, and a series of entrepreneurial and management roles, including working in Private Banking for Merrill Lynch. It has been clear from the start that she is keen to bring the Thar Coal and Power Project on stream, and in turn de-risk Oracle Power in other areas.
In fact, a significant de-risking has already been achieved with the arrival of Sheik Maktoum, something for which Memon can fully take the credit, by gaining his trust. This has resulted in not only his 15.1% shareholding, but what he as part of the ruling family of the UAE brings the table."
11p incoming #IC forecast