Energy World Corporation today released half yearly report for the PERIOD ending Dec 31, 2013. I have not had time to fully digest the report, but what jumped out at me immediately is the company is looking for more loans in the region of US$ 33M.
The funds are required to complete work on its gas exploration works in Indonesia and has provision to add another US$75 to the figure above once it meets certain performance targets.
I say again, I have no ill will for EWC, but this company does not seem to have the capacity to support the Jamaican 360MW Plant, which is projected to cost over US $700M.
Here is the Dec 31, 2013 financial report.
Filed under: Energy |
More borrowing by EWC
Click to access 01503197.pdf