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Oracle Power Inks Deal for Coal Mine in Pakistan

Coal News - Published on Wed, 26 Feb 2020

Image Source: Share Talk
Oracle Power has signed a consortium agreement with one of the largest coal mining companies in the world as well as a prominent member of the UAE Royal Family. The consortium agreement, which is subject to the laws of Pakistan, will supersede the JDA to establish a joint combined lignite coal mine in Block VI of the Thar desert and will establish the shareholding structure as required under the Government of Pakistan's 2010 Independent Power Production policy guidelines.

The parties intend to develop the proposed coal mine for a 1,320MW (2x 660MW) mine mouth power plant and coal to gas and liquid which they believe will produce sustainable and cheap energy for Pakistan.

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Posted By : Nishith Sharma on Wed, 26 Feb 2020
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