Ann: Shareholder Update - India Project, page-38

“ECT’s intent is to achieve financial close and disbursement of initial project funding before the conclusion of India’s financial year, being 31 March.”

ECT COO Jim Blackburn added, “We have no doubt we’re pursuing the development of our technologies in the right place and with the right partners.

“India is the growth story of the next decade or so, and a significant element of that growth story is their
ambition to add 135 million tonnes of steelmaking capacity.

“Following successful R&D outcomes, we’ll be well placed to support that target through our planned
commercial expansion.
“We are partnering with two of the highest performing PSU’s in India, being progressive, commercial, and
well-resourced.
“Our partnership is positioned at the ‘right’ end of the energy and resource sectors. By ‘right’, we mean the resource ownership and extraction end where a significant proportion of the resources needed to commercialise our Matmor and Coldry technologies are owned and controlled by these two government organisations.

“Further, following successful R&D outcomes, our partners have the project delivery experience and
financial capacity to move to the commercial phase with the collective impetus of the government of
India’s highly supportive energy, resource and climate policy settings behind us.

And recently Minister of Steel pushing R&D....

"Mumbai, Jan 22 (IBNS): Minister of Steel Chaudhary Birender Singh on Tuesday said that the government is considering an increase in the budgetary allocation for research and development to boost the steel sector and that the country will leave behind US in terms of steel consumption this year."

https://www.indiablooms.com/finance...ption-this-year-chaudhary-birender-singh.html

"Singh said that this will require new ways of doing things, new thinking, new investments, new ideas, and new synergies. He asked the industry to come up with new technology and innovation for steel, so as to fulfill the aspirations of the government for Make in India."

https://www.indiainfoline.com/artic...r-singh-to-steel-industry-119012300464_1.html


“Importantly, we also have the brand names of NLCIL and NMDC headlining our project, which will assist broader market awareness and acceptance of our new technologies when we embark on the commercial rollout."​

Feelin' a positive synergy all round with this one, worth the wait....