Company News Summary | 01 Dec 2014
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RCR Tomlinson Establishes Moray Power to Develop Power Station in Galilee Basin
10:11:00 | Associate analysts
Original annuncemenet:RCR to Establish Moray Power for Major Power Project
RCR Tomlinson announced that it has established Moray Power, a wholly owned subsidiary of the Company, to develop a power station in the Galilee Basin in Qld. Adani Mining would be a foundation customer for the power station to provide 150MWe of electricity to their Carmichael Mine development. Under a Memorandum of Understanding with Adani Mining, the Company has commenced the Early Contractor Involvement (ECI) process for the provision of this power working with Adani Mining in a collaborative open book approach. The ECI is expected to be completed by the end of the first quarter of 2015. On successful completion of the ECI work, regulatory approvals and agreement on terms, Moray Power and Adani Mining would enter into a Build, Own, Operate and Transfer agreement for the power station.
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