Column 1 1 Environmental Clean Technologies Limited is pleased to announce the commercial terms of the Master Project Agreement (MPA) ahead of the scheduled signing ceremony in Canberra on the 24th of May 2018.Key points:
- Largest ever research and development (R&D) collaboration between Australian and Indian companies
- Innovative Australian-developed technologies aimed at lower cost, lower emission iron and steel production utilising lower grade or waste iron ore and low-rank coal resources
- MPA to be signed in Canberra in the presence of available Minister(s) and Indian dignitaries.
- Indian partners to contribute 100% of the project funds ~AUD35m
- Special Purpose Vehicle (SPV) will be created upon completion of the R&D phase of the project, with the following ownership:
- ECT – 49%
- NLC – 25.5%
- NMDC – 25.5%
- Global licensing rights will be granted to the SPV, excluding Australia
- Future royalties will be disbursed to the partners according to the SPV ownership percentages
Ann: Master Project Agreement Commercial Terms Disclosed, page-2
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