tandich wrote:General Electric reconsiders investment in Lamu coal plantMisleading headline by The Star. Apparently some unnamed investors asked GE to reconsiders it's decision to invest in Amy.
Quote:GE's investment would primarily be in the form of new steam turbines and boilers for the refurbished coal plant from China. China decommissioned over 100 coal power stations last year.
Also claims the plant will be a refurbished one. I wonder what the implications of that are
Just as we buy RECONDITIONED/REFURBISHED cars, there are many plants/factories/equipment that are available on the second-hand market.
A few years ago, I was given a tour of a shuttered power plant, designed to burn garbage (waste to energy), that was hardly used before it was shut down for political reasons.
It was an amazing sight with huge furnaces and turbines. I was told the turbines were the priciest components.
Anyway, the plant was being disassembled to be "exported" to another country.
I am OK with a "cheap" quality refurbished coal plant as long as the specs are met or exceeded. Some of the electronics, filters, etc would need replacement or upgrades.
If Centum can get a newish/upgraded coal plant at 50% then it could be a very profitable project.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett