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14/02/19
08:04
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Originally posted by scatterpult:
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ECT rep. In august 15 2018 annoncment you told the market Both NMDC and NLCIL agreed to release a joint statement with ECT in support of the project highlighting that all partners are consistent in their support notwithstanding the differences that each may have with internal processes and compliance requirements.Director Technical at NMDC, Mr Narendra K Nanda stated, “NMDC are conscious of the timeframe for implementation of this important project and remain ready, willing and able to finalise approvals as soon as possible. It is essential that all project partners are able to complete their necessary internal processes such that the project, once started, can proceed with minimal interruption. All parties have made efforts to ensure that parallel processes such as engineering, site works, and establishment of the Project Control Committee continue to progress so that the overall project remains on track.”Incoming Director of Projects & Planning at NLCIL, Mr NMM Rao noted that “The ECT project is an important project for NLCIL. We are diligently working on the finalisation of all documents and arrangements for financial close and expect this to be completed as soon as possible. We have also commenced preparations to begin site clearance and continue geological survey activities ahead of full project mobilisation.” And Mr fOzard told us in the same anoncment "“On a personal level, I have no doubt we are on the right path in aligning our long-term interests with India. There is no doubt that India is the place to be and represents to Australian trade and business what China offered to us 15-20 years ago. We appreciate our shareholder’s strong support as we pursue demonstration on the global stage, as a prelude to the incredible value that Matmor and Coldry can deliver internationally.”As noted, parallel activities continue in support of project commencement following financial close, including: Further refinement of Matmor retort engineering to support detailed design Continuation of site & civil engineering preparations Commencement of value engineering program with Indian firm Geofiny Recruitment of project personnel Preparation and establishment of Project Control Committee Establishment of Project Steering Committee with weekly joint meetings" My queston is have there been any actual site works and prepartion done yet nowing that the consrtuction contracts you told us about today have not been singed? And are the last 6 things i have quoted from the anoncment done or being done right now? If they are being done what is being done and if they are not being done what is yet to begin. You did say that you would provide us with "The Company will provide further updates and guidance in due course" for the things mentoned in that anoncement. Thankyou.
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1) Further refinement of Matmor retort engineering - University of Newcastle was commissioned recently to generate more data sets on heat transfer to better inform the Matmor designs. 2) Geofiny now ECES - currently reviewing basic design and preparing for the EPC tender packages aimed at March/April 3) Recruitment - That was answered in yesterday's announcement where we recruited an experienced Project General Manager Rashmikant Bodiwala to add to our team including Project Manager - Amitabh Ray, R&D Manager - Vivek Mehra and Project Officer - Rajesh Ramalingam. 4) PCC - we advised we are aiming to do this in March ahead of financial close 5) Project steering committee - this is happening and will continue to happen ahead of PCC formation. 6) Site works - preparation for site clearing has been advised but further works awaiting NLC board approval for signing (expected shortly).