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Oracle Power changes chairman as it works towards financial close at Thar

Oracle is working towards the financial sign-off of its Thar thermal power station project in Pakistan

coal pile
Thar will be a coal-fired power station

Oracle Power PLC (LON:ORCP) has appointed Mark Steed as its new interim chairman to replace Anthony Scutt, who will return to his role as senior independent director.

Oracle is working towards the financial sign-off of its Thar thermal power station project in Pakistan and said it would appoint a permanent chairman once that process concludes.

READ: Oracle Power submits power plant proposal to regulator in Pakistan

The composition of the rest of the board will also be looked at once financial close occurs.

In November, the company signed a MoU with Sichuan Provincial and PowerChina ahead of a formal agreement to build and operate the Thar project.

WATCH: Oracle Power hails funding MoU with two Chinese state-owned enterprises


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Market: AIM
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