https://www.miningweekly.com
Coal|Energy|Power|PROJECT|Road
Coal|Energy|Power|PROJECT|Road
coal|energy|power|project|road

Oracle’s Chinese partners commit to changing equity holdings in Pakistan project

29th April 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

As part of the China Belt and Road Summit, held in Beijing on April 27 and 28, Beijing Jingneng Power Company (BJPC) and PowerChina International, have ceremonially signed a memorandum of understanding (MoU) that will result in a change in the equity shareholding in the Thar Block V1 lignite coal mine and mine mouth power plant project, in Pakistan.

The project is owned by BJPC, PowerChina and London-listed Oracle Energy.

The ceremonial signing of the MoU follows its initial signing in March, during which it was agreed that BJPC’s stake in the project would decrease from 78% to 73% and Oracle’s interest from 12.1% to 12%, while PowerChina’s interest would increase to 15% from 9.9%.

Oracle CEO Naheed Memon, who was present at the ceremony, said that participating in the ceremonial signing of the MoU with the company’s Chinese partners was “a public way of demonstrating their strong commitment to the project”.

Work in Pakistan continues, particularly in the planning of predevelopment work.

Oracle expects to update the market with an operational update shortly.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Image of lithium ore stockpile
Lithium conversion plant, Australia
Updated 2 hours 29 minutes ago By: Sheila Barradas
Aerial view of the Amapá mine
Amapá iron-ore project, Brazil
Updated 2 hours 29 minutes ago By: Sheila Barradas

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.224 0.259s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: