Environmental Clean Technologies Limited ASX:ESI CEO Kos Galtos

Environmental Clean Technologies Limited (ASX:ESI) has signed a Heads of Agreement for the staged investment in a Special Purpose Vehicle (SPV) by a Vietnamese-based company, to establish a plant for the production of 20M tonnes per annum of Coldry, black coal substitute, over the next 30 years.

The Heads of Agreement is between ECT and Thang Long Investment and Commercial Joint Stock Company (TL), the parent company of Victoria Capital (party to the Letter of Intent announced 18 November 2008). This agreement provides for ECT to contribute access to the Coldry IP, plant designs and expertise, and TL shall be responsible for contributing all required capital in exchange for exclusive rights to sell the Coldry pellets to its client base, mostly in southern China. TL has also committed to fund all required financial feasibility studies and to include ECT's construction and operation partners (ARUP, McConnell Dowell and Transfield Services) in the project

Category:

News & Politics

Tags:

• coldry
• clean technologies
• brown coal
• power stations
• asx:esi
• kos galtos

[1996mkmjr]

Six billion dollars is a lot of skiing trips hey Kos??

Perhaps this can do better than daddy's Endosludge...LMFAO!!!

[fingerscarr]

if the vietnamese are prepared to spend that much on it then it must be a goer ?

[fingerscarr]

ok rupert let's get this thing off the ground !

if the vietnamese think it's good enough to invest $6bn then it must be a goer

[Herebuss]

A good interview at capturing the current state of ECT. I am sure the Vietnamese deal will be the anchor for many more opportunities.