Griffin cancels coal supply agreement with Perdaman

Griffin Coal, a subsidiary of Lanco Resources Australia, owned by Lanco Infratech Limited (LITL), the business conglomerates in India with interests in EPC, Power, Resources, Solar and Infrastructure has announced that it has terminated its Coal Supply Agreement (CSA) with Perdaman Chemicals and Fertilisers Pty Ltd (Perdaman) in terms of the CSA as the condition precedent to the implementation of that CSA concerning Perdamans? Financial Close was not met by Perdaman.

Griffin Coal has in good faith offered to withdraw this formal termination and to provide Perdaman with additional time until 15 October 2011 to achieve Financial Close including certain terms & conditions in line with the CSA.? This offer is open for acceptance by Perdaman until 6 September 2011.

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Source: http://newstkr.com/2011/09/griffin-cancels-coal-supply-agreement-with-perdaman/

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