DHAKA, June 18: London-based Asia Energy Corp said on Saturday it plans to invest $1.4 billion over the next three decades in a coal mine in northern Bangladesh. “Our drillings have established that the Phulbari coal field in northern Bangladesh has resources of 522 million tons of high-quality coal,” Brian Mooney, Asia Energy’s head of corporate affairs, told AFP.
“Over the 30-year life of the mine the company will invest $1.4 billion, and approximately half the amount will be spent on the start-up,” Mooney said as the company drilled its final test hole in a 10-month exploratory programme.—AFP
