The power project comes including a lignite mine which is dedicated as the fuel source for the project.
The economical lignite reserves are calculated to be 152,000,000 million metric tons and can supply the power plant for up to 42 years.
The mine shows an average lignite thickness of 12m and the licensed mining area is 1,852 acres and the license is valid for 42 years.
Site exploration studies for a bankable mining plan were conducted by North American Coal Corporation, and the total investment necessary to fund the project is approximately $1.26bn of which 30% is to be in the form of equity.
Pursuant to the agreement, the company will receive consulting fees upon closing of the power project for its consulting and financing services.
Construction is to commence within 12 months after signing of an agreement with the buyer or investor of the project.
