“Tuesday night saw Australian PM Tony Abbott host a dinner in honour of Mr Modi at the Melbourne Cricket Club”.
“It was a night full of celebrities, who’s who of Australians of the year, well known academics, cricketing legends and business people from India and Australia… and ECT Chairman Glenn Fozard.”
“The initial speeches occurred in the Olympic room to about 1000 people and then it moved into the MCC members dining room for a smaller grouping, which included our Chairman.”
“In the lead up to the event we managed to provide both Prime Minister’s offices with a confidential briefing of our activities with two of India’s leading PSU’s, Neyveli Lignite Corporation (NLC) and the National Mineral Development Corporation of India (NMDC).”
Indian PM visits Melbourne Date: November 21, 2014 Indian Prime Minster Narendra Modi was in Melbourne Tuesday (18 Nov 2014), engaged in diplomatic duties and promoting India as ‘open for business’.
Tuesday night saw Australian PM Tony Abbott host a dinner in honour of Mr Modi at the Melbourne Cricket Club. Link: Indian Prime Minister Narendra Modi talks business in Melbourne (opens a link to The Age in a new window)
It was a night full of celebrities, who’s who of Australians of the year, well known academics, cricketing legends and business people from India and Australia… and ECT Chairman Glenn Fozard. The initial speeches occurred in the Olympic room to about 1000 people and then it moved into the MCC members dining room for a smaller grouping, which included our Chairman.
It was at that point that the protocols were laid out. No phones, no cameras and no approaching the VIPs. Typical security procedure for such an event. The evening was a valuable opportunity for Prime Minister Modi to reinforce a number of points:
He is serious about shaping the direction of his country’s growing economy
India is open for business
Bilateral trade and investment is a major focus
In the lead up to the event we managed to provide both Prime Minister’s offices with a confidential briefing of our activities with two of India’s leading PSU’s, Neyveli Lignite Corporation (NLC) and the National Mineral Development Corporation of India (NMDC).
The briefing focused on:
Introducing ECT and it’s Coldry and Matmor technologies
Highlighting the current stage of development; Coldry and Matmor poised to advance to demonstration and pilot stages, respectively
It also covered off the high-level drivers for deployment of both techs in India as follows:
Coldry Benefits
Energy security
Unlocking a new, domestic source of ‘black coal equivalent’ for power generation, and higher-value applications such as coal to oil and gas, and Matmor
Security of supply to new and existing power stations, mitigating the threat of power shortages
Economic security
Upgrading the economic value of lignite
Import replacement
Local manufacturing
Mitigating lost productivity by contributing to power supply stability
Environmental security
Lower CO2emissions compared to lignite
Increased economic dividends, leading to improved funding outcomes for often costly environmental initiatives
Matmor Benefits
Significantly broaden the raw material supply options of primary iron making, and deliver substantial decreases in raw material costs
Reduced reliance on coking coal (or coke), increasing resource security
Candidate brown coals are widely available, and significantly lower in cost
Offset imports by utilising domestic lignite and ‘waste’ iron ore resources to help meet India’s forecast growth in steel intensity
Events such as this provide an opportunity to network, reinforce the drivers behind our India strategy, and focus relevant parties on the solutions we’re developing.
ESI Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
(20min delay)