-- Pacific Lime and Cement (ASX:PLA) signed a memorandum of understanding (MOU) with Papua New Guinea-based power operator Dirio Gas & Power to develop dedicated power infrastructure for the Central Lime and Cement project, according to a Friday filing with the Australian bourse.
The MOU establishes a framework for the companies to work on delivering a private 66-kilovolt transmission line from the Central Province Power Station to Pacific Lime and Cement's project area, the filing said.
Electricity supply may be extended to nearby communities along the transmission corridor, subject to capacity and approvals, per the filing.
Pacific Lime and Cement shares fell nearly 2% in afternoon trade Friday.