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Article: Phillips Coal Company announces new lignite mine, power plant in Mississippi; $500 million project will provide Electricity for Tennessee Valley Authority.
- Article from:
- Business Wire
- Article date:
- July 16, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BARTLESVILLE, Okla.--(BUSINESS WIRE)--July 16, 1996-- Phillips Coal Company (PCC), a subsidiary of Phillips Petroleum Company (NYSE: P), announced today that it has reached tentative agreement with the Tennessee Valley Authority (TVA) to develop, in partnership with CRSS-Tractebel, a 400-megawatt power plant, with fuel supplied by a 3 million-ton-per-year lignite mine, in northeast Mississippi near Ackerman. TVA will be the sole customer for the electricity.
Construction of the $500 million project is scheduled to begin in early 1998, with startup in 2000. It will be PCC's fourth mine, and the first time it has played a developer's role in a power project. PCC owns ...