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Forrest and Fortescue make big splash in PNG hydropower – The Australian Financial Review
Australia’s richest man has signed up his Fortescue Metals Group for a plunge into green energy in Papua New Guinea.
Mr Muthuvel has estimated the Purari River scheme and other projects on Fortescue’s radar could eventually generate 25 gigawatts of power a year.
Dr Forrest and a Fortescue team that includes deputy chief executive Julie Shuttleworth have been in PNG since last week looking at investment opportunities.
The trip follows a Fortescue visit to the troubled copper- and gold-rich island of Bougainville last year.
In a non-price sensitive statement to the ASX, Fortescue said its wholly owned subsidi…
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