SOURCE: Industrial Info Resources

August 25, 2009 06:01 ET

Banks Pull Funding for German Coal-Fired Power Plant, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - August 25, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The construction of an 823-megawatt (MW) coal-fired plant at Ingelheimer Aue near Mainz, Germany, will grind to a halt unless further financing can be secured. Kraftwerke Mainz-Wiesbaden AG (KMW AG) has said that the 1 billion euro project ($1.4 billion) is now in serious jeopardy because the banks are unwilling to loan the money needed to continue the project. British finance institution Barclays plc (NYSE:BCS) (London) is known to have withdrawn from the project. The contract to build the plant was won by a consortium led by Siemens AG (Munich, Germany).

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