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Clean Global Energy Signs Four-Way Agreement for Mongolian Underground Coal Gasification Project
BANGALORE, INDIA--November 6, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--New-era energy company Clean Global Energy Limited (ASX:CGV) (CGE) (Perth, Australia) recently signed a joint venture agreement, worth about $400 million, to form a Hong Kong-based, four-way joint venture company for an underground coal gasification (UCG) project in Mongolia. The other members of the venture are Inner Mongolia Gu Xin Mining Company Limited (Beijing, China), Beijing Yusenjiayu Environmental Protection Technology Company Limited (YSJY) (Beijing), and Goldbridge Clean Tech Energy (East Sussex, England). A memorandum of understanding was signed earlier between the companies in August 2009, following which coal sources were reviewed.
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