KPMG Plans to Sell Powerfuel’s Coal Businesses by March

Bloomberg.com reports that KPMG plans to sell Powerfuel Plc within three months.

The story is quoted as saying:

The coal mine needs about 30 million pounds ($47 million) to raise production, KPMG said in a statement. The company has permission to build a power station at the site and won 180 million euros ($239 million) of European Union funding to demonstrate the capturing and storage of CO2. Powerfuel is 653 million pounds short of the investment needed to develop the CCS project, according to KPMG. The funding will be available if new owners can raise the additional investment needed for the project, Fleming said.

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