GCM Resources, the parent company of Asia Energy, wants to be part of the government’s initiative to generate 19,000MW of electricity from coal by 2030, the company’s chairman said at the firm’s annual general meeting in London.
GCM Resources Chairman Datuk Michael Tang said in his address on December 18 that the company was committed to working with Bangladesh to develop the Phulbari coal project and associated power plants.
Asia Energy has exploration licences and a mining lease for the Phulbari coal basin and a contract for the exploration and mining of coal in northern Bangladesh.
“The government’s decision to move quickly with large scale coal-fired power is supported by the UN’s Human Development Report 2015 released last week,” Tang said.
Bangladesh’s path to middle-income status and beyond is through adding significant power generation which will enable industrialisation and create large-scale employment, he said.
Tang, a Malaysian national, was re-elected unanimously by shareholders, said a GCM Resources press release.
GCM’s Chief Operating Officer and the company’s representative in Bangladesh, Gary Lye, said although Bangladesh is vulnerable to the effects of climate change, it is not itself a significant emitter of greenhouse gases including carbon dioxide. Per capita carbon dioxide emissions are substantially below other countries in the region, he said.
