Feasibility Study

Asia Energy submitted a Feasibility Study and Scheme of Development for the Phulbari Coal Project to the Government of Bangladesh (GoB) on 2 October 2005. In accordance with Asia Energy's contract with the GoB, the 600-page report was officially handed to the Director of the Bureau of Mineral Development of the Ministry of Power, Energy and Mineral Resources. The contract stipulates that the GoB has three months in which to approve the Project.

A total of 76 separate reports were incorporated into the Feasibility Study and Scheme of Development, detailing every aspect of the future mine, from mine design and water management to coal handling and processing and coal transport. The Report also contains separate sections on environmental management, resettlement action plan, indigenous people's development plan and a public consultation and disclosure plan.

Asia Energy has completed a Definitive Feasibility Study (DFS) for the financing of the Project, and has also submitted a proposal to the GoB for developing up to 1000 MW of mine mouth coal-fired power generating capacity.