Asea Brown Boveri outlined the Collie power station draft power purchase agreement to its arranging banks this week, Fuel and Energy Minister Geoff Gallop said today.
Dr Gallop said ABB had told him that the consortium of international banks being asked to finance the $2 billion Collie power station project would assess the power purchase agreement before making a final decision on their degree of participation in the project.
"It is anticipated that the agreement will be able to be initialled by SECWA and ABB next month," he said.
"My discussions with ABB indicate that the financing arrangements for the project are well in hand. Early feedback is very positive.
"ABB's presentation to the arranging banks in Sydney follows meetings in Tokyo last week with those Japanese banks involved in the proposed financing of the project."
Dr Gallop said he was impressed with the speed at which ABB was moving to finalise its financing and other arrangements.
"I have been informed that ABB will be opening an office for the Collie project in Perth next month," he said.
