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Consortium deal cheers Oracle Coalfields

By Robert Tyerman | Saturday 17 October 2015

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Shahruck Khan, entrepreneurial chief executive officer of Oracle Coalfields (ORCP), says he is now ‘working towards financial closure’ for the company’s $1.5 billion (974 million) project to develop a potential 1.4billion-tonne lignite (brown coal) mine and 600-megawatt power station in south-eastern Pakistan, following a key consortium agreement with Shandong Electric Power Corporation (SEPCO) of China.

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