CASSONA SE
CASSONA invest in the establishment of coal-fired power plants in Mongolia (with additional features)
CASSONA SE / Key word(s): Miscellaneous/Letter of Intent CASSONA signs first pre-contracts with the Ministry of Energy of Mongolia to build the Tavan Tolgoi Power Plant Frankfurt (25 June 2013) – CASSONA SE (COE) participates in the construction of a first coal-fired power plant in Mongolia. In close proximity to the high-quality coal deposits in Tavan Tolgoi located in the Ömnögovi Province in southern Mongolia a 450 MW power plant shall be established. On the basis of the Government Resolution of Mongolia and the joint venture projects organized by the Ministry of Energy, the co-operation with CASSONA shall ensure the substantial foreign investment. After the successful signing of the Memorandum of Understanding to build several coal-fired power plants with different capacities and at selected locations, CASSONA and the Government of Mongolia have exchanged respective Letter of Intents to build the Tavan Tolgoi Power Plant. The total investment volume for the first project is estimated at around 1.0 billion USD. The comprehensive structured financing involves the Government of Mongolia and CASSONA with the result that one third of the assets shall be held by Mongolia and two thirds by CASSONA. ‘This is the first out of five planned coal-fired power plants, which will be established together with us’, the Executive Director Oliver Walangitang underlines. ‘Instead of simply exporting the coal outside the national boarders, the Government of Mongolia is realising to produce the electrical energy itself to exploit the huge potential of other natural resources, which are still undiscovered in Mongolia. We are very pleased to lay the cornerstone with the Tavan Tolgoi Project for a chain of similar structured investment projects in Mongolia, which we intend to implement during the coming years.’ CASSONA is an investment corporation for targets of the business sectors natural resources, mining and infrastructure. CASSONA is a European corporation with domicile in Frankfurt Main. The shares are listed at the regulated market of GXG Markets and they are traded at the Open Market of Frankfurt Stock Exchange FWB and at Berlin Stock Exchange (ISIN DE000A1C6T63). CASSONA SE ir@cassona.de This announcement contains forward-looking statements that are based on current assumptions and forecasts of the management of CASSONA SE. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our company. The company assumes no liability to update these forward-looking statements or to conform them to future events or developments. (c) 2013 CASSONA SE is a European corporation in the legal form societas europaea (SE) with headquarters in Frankfurt am Main, country of origin Germany and first quotation at the Danish stock exchange GXG Markets A/S in the EU regulated market segment GXG Official List. End of Corporate News +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=WYNRABBUOG Document title: CASSONA Press Release 2013-06-25 25.06.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | CASSONA SE | |
Schubertstrasse 14 | ||
60325 Frankfurt | ||
Germany | ||
Phone: | 030 6150 82 151 | |
Fax: | 030 6150 82 152 | |
E-mail: | info@cassona.de | |
Internet: | www.cassona.de | |
ISIN: | DE000A1C6T63 | |
WKN: | A1C6T6 | |
Listed: | Freiverkehr in Berlin; Frankfurt in Open Market ; GXG | |
End of News | DGAP News-Service |
217891 25.06.2013 |