StockMarketWire.com - GCM Resources said it had received a pre-feasibility assessment report from Power Construction China Corporation of China with regards to new partner projects in Bangladesh.

The report considered the technical aspects of developing 4 gigawatts of power generating capacity to be implemented in two stages.

The plants were in addition to an existing 2GW power plant proposal with China Gezhouba Group International Engineering, which GCM reported in July.

All the power plants were planned to be commissioned in line with an associated coal mine's ramp up to full production.

Power Construction China and GCM were currently in discussions to further progress their relationship, GCM said.

'This is a significant step for the Phulbari coal and power project as it confirms that technically the proect is able to support 6GW of power generation,' executive chairman Datuk Michael Tang said.

'Subject to satisfactory negotiations, we aim to extend the arrangement with Power Construction China and then for more detailed feasibility studies to be completed on the proposed mine mouth power plants, which we anticipate will provide energy at the lowest-cost in Bangladesh.'


At 1:51pm: [LON:GCM] GCM Resources PLC share price was +0.76p at 15.63p



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