Details15 Jan 2021 15:37
Looking good not sure why the sells and drop.
Oracle Power says partner begins pre-feasibility work for Thar Block VI project
2021-01-15 07:51:00
The power project developer said its partner, China National Coal Development Company, will guide feasibility study workstreams for the project in ****stan
Oracle Power PLC (LON:ORCP) said its consortium partner, China National Coal Development Company (CNCDC) has commenced preliminary feasibility work relating to the potential gasification of coal at Oracle’s Thar Block VI project in ****stan.
The natural resources and power project developer said CNCDC will guide the feasibility study workstreams for the project, which includes market analyses, type of product and scale, process technology evaluation, public engineering of auxiliary facilities required, investment estimation and financial evaluations.
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Additionally, Oracle said, in conjunction with CNCDC, it is preparing coal-to-gas and coal-to-liquid policy requirements to be proposed to the government of ****stan with the intent of establishing the “optimal regulatory framework and government policy” following the government’s recent public declarations of support for developing the country’s indigenous coal reserves.
"Drawing on the extensive experience of China Coal as a world leader in coal development and integrated industries, we at Oracle are positioning ourselves to become a first mover in the development of coal-to-gas for urea, coal-to-liquids and for other applications in ****stan. Alongside the development of our proposed mine-mouth power plant, coal-to-gas and coal-to-liquids are expected to play an extremely important role in the growth of our company and we expect this work by CNCDC to establish the viability of, and a development model for, coal gasification at Thar Block VI”, Oracle chief executive Naheed Memon said in a statement.
“We are encouraged to see that the Government of ****stan has endorsed the requirement for conversion of Thar coal to gas in view of the acute natural gas shortage in ****stan, which can lead to food security problems, in this predominantly agro-based economy. Further, the government has also demonstrated an appetite for the possibility of using syngas as a replacement for RNLG or natural gas in an appropriate form. We intend to work very closely with CNCDC, the Government of ****stan and the Government of Sindh to expedite this dimension of our development", the CEO added.
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