Exciting Times for Gcm26 Jan 2019 12:44
From Rns re Power China
GCM Resources plc ("GCM" or the "Company"), an AIM quoted mining and energy company, is pleased to announce that it has agreed a Joint Venture Agreement ("JV Agreement") and a definitive Engineering, Procurement and Construction Contract ("EPC Contract") with Power Construction Corporation of China, Ltd ("POWERCHINA") for the development of 2×1,000MW Coal-Fired Power Plant Project ("Power Plant") at the site of the Company's proposed coal mine in North-West Bangladesh. The Power Plant proposed with POWERCHINA is part of the Company's broader strategy to generate 6,000MW of low-cost electricity for the Bangladesh market utilising domestic coal, providing an estimated US$12.5 billion in foreign investment.