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Oracle Power provides update on Thar Block VI project in Pakistan
StockMarketWire.com
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Oracle Power said its consortium partner China National Coal Development Company (CNCDC) has commenced preliminary feasibility work relating to the potential gasification of coal at the Thar Block VI project in Pakistan.
The natural resources and power project developer said this includes market analyses, process technology evaluation, public engineering of auxiliary facilities required, investment estimation and financial evaluations.
In conjunction with CNCDC, Oracle is preparing coal-to-gas and coal-to-liquid policy requirements to be proposed to the government of Pakistan with the intent that the optimal regulatory framework and government policy is established.
Chief executive of Oracle Naheed Memon said: Drawing on the extensive experience of China Coal as a world leader in coal development and integrated industries, we at Oracle are positioning ourselves to become a first mover in the development of coal-to-gas for urea, coal-to-liquids and for other applications in Pakistan.
Alongside the development of our proposed mine mouth power plant, coal-to-gas and coal-to-liquids are expected to play an extremely important role in the growth of our company and we expect this work by CNCDC to establish the viability of, and a development model for, coal gasification at Thar Block VI.
At 9:35am: (LON:ORCP) Oracle Power PLC share price was 0p at 0.6p
Story provided by StockMarketWire.com
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