Prophecy Coal Corp. has requested proposals from various companies for its Chandgana power plant.

Four Chinese engineering, procurement, and construction companies have reviewed the project data and visited the site in the past 90 days, in addition to several other international companies that have expressed written interest in bidding on the contract. The firm expects to have a final proposal by 31 March this year and conclude the selection process by the second quarter of 2012.

Since obtaining the power plant construction license in November last year, Prophecy Coal has been in close dialog with the Ministry of Natural Resources and Energy regarding the drafting and signing of the Chandgana project. Several meetings have taken place, including a meeting this month to establish a working commission on the project.

The firm has also met in Beijing with Chinese government-sponsored policy banks currently involved in Mongolian projects, as well as private equity firms engaged in international energy production projects. Independent power plant project in Asia have a history of offering stable yields, and have garnered the interests of institutional investors. Prophecy Coal hopes its Chandgana project will be viewed as a similar investment.