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Project Financing
Project Financing.
About this update from Gcm Resources Plc
[{"type":"text","content":"\n Asia Energy PLC\n20 August 2004\n\n Asia Energy Plc\n\n NEWS RELEASE\n\n BARCLAYS CAPITAL TO PROVIDE PROJECT FINANCING ASSISTANCE FOR PHULBARI ENERGY\n PROJECT IN BANGLADESH\n\nAsia Energy Plc ('Asia Energy' or 'the Company') (AIM: AEN) is pleased to\nannounce that Barclays Capital, the investment banking division of Barclays Bank\nPLC, has been appointed to provide advice and services in connection with the\nfinancing of the Phulbari coal deposit in Bangladesh (the 'Project'). Barclays\nCapital will provide these services through their Mining & Metals team.\n\n'We are delighted to appoint an adviser of the calibre of Barclays Capital. This\nreflects the development of Phulbari as a major mining project. Asia Energy is\nusing leading mining, social and environmental consultants to conduct its\nfeasibility study on Phulbari and now has one of the world's leading mining\nfinance groups assisting the Company in the co-ordination of the equally\nimportant financing aspects of the study,' said Mr Chris Eager, Asia Energy's\nChairman.\n\n'Barclays Capital is one of the world's leading investment banks with a focus on\ndebt and risk management. The Mining and Metals team assists a wide variety of\nclients throughout the global mining industry and is delighted to be working\nwith Asia Energy to develop one of the world's most exciting greenfield coal\ndeposits,' said Mr Gerard Holden, Global Head of Mining & Metals, Barclays\nCapital.\n\nBarclays Capital, in its capacity as Adviser, will work with the Asia Energy\nteam in advancing the Project with the aim of securing finance for the\nconstruction and commissioning of the future coal mining operation. The\nEngagement has been split into two phases that reflect the different activities\nnecessary to ultimately secure funding for the Project:\n\nPhase 1. Commencement of Engagement through finalisation of bankable feasibility\nstudy ('BFS') and structuring of debt package\n\nDuring Phase 1 Barclays Capital will:\n\n • Work with Asia Energy to review the Project's technical, environmental and\n social information and assist with legal, regulatory, political and\n financial issues.\n\n • Provide assistance in reviewing and negotiating material Project contracts\n including construction contracts; infrastructure agreements for\n transportation, power and water; land purchase ag...