MoU11 Nov 2016 13:34
Mine-Mouth Power Plants
GCM Resources plc ("GCM" or the "Company"), a London based resource exploration and development company, is pleased to announce that a memorandum of understanding ("MOU") has been agreed with China Gezhouba Group International Engineering Co. Ltd ("CGGCINTL").
The MOU provides for parties to engage and mutually investigate the feasibility of a joint venture with respect to the development of mine-mouth coal fired power plants generating up to 2,000MW in total at the Phulbari Coal and Power Project site.
CGGCINTL is a subsidiary of China Gezhouba Group Corporation (CGGC), which in turn is a core member of China Energy Engineering Group Co., Ltd., a super central state-owned enterprise of the People's Republic of China. CGGC's businesses cover the design, construction, investment and operation in power, water conservancy, highways, railways, bridges, municipal works, airports, ports, waterways, industrial and civil buildings, as well as real estate and coal mining amongst others.