March 3, 2014
Po Valley Energy Ltd (ASX: PVE) is pleased to advise that the
Environmental Impact Assessment (EIA) for its Bezzecca gas discovery has
been formally approved by the Lombardy Region regulatory authorities.
The EIA approval is a critical step in the awarding of a final
The physical infrastructure to bring the Bezzecca gas field into
production involves a 7 km gas pipeline to connect the field to the
existing Vitalba gas plant. Pipeline installation will commence
immediately upon the award of the production concession. Design
and planning are well advanced. The pipeline is now estimated to cost
in the order of €3.1 million and will be funded through a combination of
operating cash flow and the recently completed reservoir financing
facility with Nedbank.
The awarding of the EIA is a significant milestone towards bringing our third field into production.
Po Valley Energy
+39 06 4201 62 75
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