PPIB Meeting with Consortium Scheduled

RNS Number : 3775Y

Oracle Power PLC

08 September 2020

 

Oracle Power PLC

("Oracle", the "Company" or the "Group")

Private Power and Infrastructure Board Meeting with Consortium Scheduled

Oracle Power PLC (AIM:ORCP) is pleased to advise that, further to the announcement of 28 August 2020, the Company, along with its Consortium partners, China National Coal Development Company Ltd. and the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum (together, the ' Consortium'), has been invited to meet with the Private Power and Infrastructure Board ('PPIB') on Friday, 11 September 2020.  The purpose of the meeting is for the Consortium to formally present the Thar Block VI project implementation plan, with a view to finalising the award of a Letter of Intent ('LOI'). 

The meeting will be chaired by the Special Assistant to the Prime Minister on Power in Islamabad, Pakistan, along with representatives of the Ministry of Energy (Power Division), CPEC Authority and the Planning Commission (Islamabad). The Consortium will present plans to the government for the development of Thar Block VI for power, gas for urea and other uses.

The Consortium's presentation to the PPIB forms part of its LOI application and is considered by the Board of Oracle as one of the final steps in the award of the LOI. Further updates in respect of the timing, and next steps required, with regard to the issuance of the LOI will be made in due course as and when appropriate.

*ENDS*

For further information:

Oracle Power PLC Naheed Memon	[phone]
Strand Hanson Limited (Nominated Adviser) Rory Murphy, James Harris, Jack Botros	[phone]
Brandon Hill Capital Limited (Joint Broker) Oliver Stansfield	[phone]
Shard Capital (Joint Broker) Damon Heath Isabella Pierre St Brides Partners Limited (Financial PR) Susie Geliher Catherine Leftley	[phone] [phone]

 

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