(MENAFN- ProactiveInvestors - Australia) Syngas Limited (ASX: SYS) continues to progress an offtake agreement with Teys Australia Southern for its Bomen Power Project in New South Wales.
The Heads of Agreement will form the basis of a Binding Commercial Agreement (BCA) for the offtake of power, hot water and steam generated by Bomen by Teys Wagga Wagga Beef Processing facility.
It sets out the key content, milestones and timelines that provide the basis for the BCA to be finalised and signed.
This will be followed by a formal presentation of the Definitive Feasibility Study outcomes by Syngas to Teys in early March 2013, and review and subsequent assessment of these outcomes by Teys.
Syngas has continued to progress the Definitive Feasibility Study for the Bomen plant, which is capable of producing between 3 to 4.2 megawatts equivalent of power using biomas and natural gas as feedstock.
Lodgement of a Development Application for the project to regulatory authorities is targeted to be achieved by 31 March 2013, and is currently on track.
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