Member Info for ogm4

March 14, 2018 Govt won�t continue energy supply at cheap rate: Muhith http://energybangla.com/govt-wont-continue-energy-supply-at-cheap-rate-muhith/

Any timeline Searcher ?

Momentum is gaining within the country... http://www.straitstimes.com/business/companies-markets/summit-power-inks-pact-with-mitsubishi-for-integrated-lng-terminal-power

Well there is 50 Billion worth of coal or so and the Chinese committing to investing heavy sums of money.

Article from July last year: Govt to set up 22 coal-fired power plants in four years https://thefinancialexpress.com.bd/economy/govt-to-set-up-22-coal-fired-power-plants-in-four-years

“Bangladesh should, therefore, go for all-out commercial exploration of coal in the next five years to make the power sector sustainable and vibrant.”

Coal was the biggest target and probably still is...

within next two weeks or so

Chinese firms to build Bangladesh clean coal plant 12/27/2017 By Tildy Bayar http://www.powerengineeringint.com/articles/2017/12/chinese-firms-to-build-bangladesh-clean-coal-plant.html

Myanmar, China, Bangladesh agree on electric power trading March 9, 2018 http://energybangla.com/myanmar-china-bangladesh-agree-on-electric-power-trading/

check advfn

So this signed agreeement already includes "a commitment by CGGC to invest up to 30% in the power plant", therefore I expect the next step will be the actual major funding agreement itself.

SUN MAR 11, 2018 / 8:42 AM GMT China allows Xi to remain president indefinitely https://uk.mobile.reuters.com/article/amp/idUKKCN1GN075

Mr Chen Xiangdong, Vice President of China Gezhouba Group International Engineering Co. Ltd stated: "CGGC International is a leading implementer of China's 'Belt & Road' Initiative and seeks projects that are in line with this initiative and that promote social progress. We are pleased to have secured the Joint Development Framework Agreement for GCM's proposed 2,000MW power plant and look forward to assisting GCM in progressing both the mine and the power plant for the benefit of Bangladesh." China's Belt and Road initiative set up by the first man President Xi himself and one of the most ambitious economic development plans in decades: https://goo.gl/k6tyGV

advfn 888icb: ‘We Look forward to assisting GCM in progressing both the MINE and the power plant For the benefit of Bangladesh “ Those are the words used by the head of the massive Chinese state infrastructure company that has just entered into the Joint Development Framework Agreement with GCM. All the usual derampers who have appeared as usual should note the specific reference to progressing the MINE as well as the Power plant. If anyone thinks a large Chinese Infrastructure Company is going to spend time and money developing a power plant right by the Phulbari coal project and that they think the coal project won’t proceed,needs to seek help. This is the best news GCM has had in a long time and their Chinese partner will have serious influence at the highest levels of Government. This should be seen as a massive vote of confidence in the future of GCM and mining at Phulbari. This news should justify a much higher share price and it will be disappointing if it doesn’t test the 52 week high of 52p next week.

...only 88 million shares outstanding, of which free float less than 40 million shares (45 pct)

The Joint Development Framework Agreement outlines the parties' roles and responsibilities in pursing approval of the Phulbari Coal and Power Project, including a commitment by CGGC (or its affiliate or investment partner) to invest up to 30% in the power plant, subject to approval by Chinese authorities, with GCM holding the balance of interest. Under the agreement CGGC undertakes to facilitate financing for the proposed power plant with GCM's assistance.

Big trade coming in

searcher3 on other board- BR exempts private power companies https://thefinancialexpress.com.bd/trade/nbr-exempts-private-power-companies-from-advance-income-tax-1519973123  NBR exempts private power companies from advance income tax “The tax holiday for 15 years, from the date of commencement, has also been offered for coal-based power plant companies on condition of entering into agreement with the government before June 2020.”

https://mobile.twitter.com/search?q=%23gcm Some interesting predictions there as well...