RE: Production by June ? !!6 Feb 2019 11:25
The RNS 17th Jan clearly states that as a result of the 8th Joint Co-operation Committee meeting held in Beijing on 20th Dec 2018 that BlockV1 was maintained as a Priority Project
Headlines :
· Block VI maintained as Priority Project in 8th Joint Cooperation Committee ("JCC") meeting;
· China Pakistan Economic Corridor ("CPEC") approve Oracle proposed expansion to 700MW;
· Consortium partnership change noted in CPEC.
The 8th JCC meeting took place on 20 December 2018 in Beijing. This is an intra-Government meeting between China and Pakistan, jointly chaired by the Vice-Chairman of China's National Development and Reform Commission and by Pakistan's Minister of Planning Development and Reform, which oversees the initiatives of CPEC. The meeting has confirmed the following:
· Oracle's project retained its status as one of the Priority Projects of the CPEC Energy initiative.
· The Company has been granted approval for the proposed increase in capacity from 660 MW to 700 MW. This approval includes the upgrade to supercritical technology.
· As part of a broader drive to indigenous power generation, the JCC reconfirmed 19 other Energy Projects promoted under CPEC, totalling 13,630MW, noting 7,240MW of which were currently under construction. The remaining 6,390MW, including Oracle's Block VI, were working towards financial close.