GCM Resources plc, the parent company of Asia Energy Corporation Bangladesh Pty Ltd, is pleased to announce that a memorandum of understanding (MoU) has been agreed with China Gezhouba Group International Engineering Co Ltd.
The MoU provides for parties to engage and mutually investigate the feasibility of a joint venture with respect to the development of mine-mouth coal fired power plants generating up to 2,000MW in total at the Phulbari Coal and Power Project site, said a press release on Saturday.
China Gezhouba Group International Engineering Co Ltd, is a subsidiary of China Gezhouba Group Corporation (CGGC), which in turn is a core member of China Energy Engineering Group Co Ltd, a super central state-owned enterprise of the People`s Republic of China.
CGGC`s businesses cover the design, construction, investment and operation in power, water conservancy, highways, railways, bridges, municipal works, airports, ports, waterways, industrial and civil buildings, as well as real estate and coal mining amongst others.
The Executive Chairman of GCM, a London based resource exploration and development company, Datuk Michael Tang, stated: "We are delighted to have established this relationship with China Gezhouba Group International Engineering Co Ltd, one of the largest and most respected engineering companies in the region and look forward to working with them for the mutual benefit of both parties."