POWER!!!! Fortescue Future Industries, page-4577

Hi G,

Just going back over the Investor Call.

Fortescue highlighted the two energy projects that look to be coming next.

Norway project, Holmanaset.

200,000 tonnes of ammonia is what Fortescue believe will be their phase 1 production for this project.

CAPex - roughly US$1 billion.

EUR 200 million European Commission Grant, which will go against the CAPex.

They will bring in bank debt, most likely at financial close, i.e., around 50-60%.

With the intention to sell down some of that equity.

Their intention is not to ever spend that all themselves with their capital.

One just has to do the maths.

Gives you an idea of the scale and scope here.

@jb206, is the research and numbers man, want to chime in buddy?

Tony