IPS - IPSA Group Plc - Newcastle Cogeneration Plan
IPS
IPSA
IPS - IPSA Group Plc - Newcastle Cogeneration Plant Update and Standard Bank
Loan
IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration number 5496202)
AIM Share Code: IPSA ISIN: GB00B0CJ3F01
JSE Share Code: IPS ISIN: GB00B0CJ3F01
(`IPSA` or `the Company`)
NEWCASTLE COGENERATION PLANT UPDATE AND STANDARD BANK LOAN
IPSA, the independent power plant developer with operations in southern Africa,
which is quoted on AIM and has a secondary listing on ALTx, today announces the
completion of the first stage of commissioning of the Newcastle Cogeneration
plant with 50 per cent. of the plant now ready to enter commercial operations.
First commercial revenues are expected during April 2007.
IPSA also announces the successful negotiation of a US$20m loan facility with
Standard Bank PLC to fund a portion of the payments due on the turbines
purchased, as announced on 9 March 2007, for the Company`s development project
at the Coega Industrial Development Zone, near Port Elizabeth, Republic of South
Africa.
For further information please contact:
Peter Earl, CEO, IPSA Group PLC +44 (0)20 7793 5600
John Llewellyn-Lloyd, Noble & Company Limited +44 (0)20 7763 2200
11 April 2007
Sponsor
Standard Bank
AIM nominated advisor
Noble and Company Limited
Date: 11/04/2007 17:14:48 Produced by the JSE SENS Department.
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