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Article

5 Sep 2006

Author:
Syful Islam, New Nation [Bangladesh]

Deal with Asia Energy: Expert body in a fix to finalise report

The committee, which is evaluating the feasibility study report submitted by the Asia Energy Corporation (AEN), is in a fix to bring a conclusion in its report as the government announced cancellation of the agreement with the London based coal-extracting company...According to the sources, a meeting of the committee held on Friday last has almost finalised the report citing the deal illegal in terms of royalties and tax holiday issue, recommending under cast mining instead of open pit method, asking for ensuring proper rehabilitation and adequate compensation to the local population and seeking assurance of additional royalties.