Appointment to Shanxi Provincial Govt Board

RNS Number : 6398L

Green Dragon Gas Ltd

03 August 2011

 



3 August 2011

GREEN DRAGON GAS LTD

("Green Dragon" or the "Company")

Randeep Grewal Appointed to Shanxi Provincial Government Board in China

Green Dragon Gas Ltd. (AIM: GDG), one of the largest independent companies involved in the production of coal bed methane ("CBM") gas, and the distribution and sale of wholesale gas, in China, is delighted to announce that its Chairman, Randeep Grewal, has been appointed as Vice Chairman of the Board of the Shanxi Association for Instituting Reformation and Creation (the "Association").  Mr Grewal is the only non-Chinese member on the Board of the Association.

The Association is Shanxi Provincial Government's vehicle for combining the promotion of Shanxi's business interests, the Province's Corporate Social Responsibility oversight and the on-going improvement of the standard of living in Shanxi.

The Association was established in 2007, in a role that is consistent with China's central government's Harmony initiative outlined in its twelfth five year plan.  The Harmony initiative strives to balance the differing pace of economic growth and social development between the large coastal cities with that of the inland provinces, by devolving responsibility for these aspects to China's provincial governments.

Mr Grewal brings valuable commercial experience to the Board of the Association through his chairmanship and management of Green Dragon and Greka Drilling Limited ("Greka"), both of which have operations in Shanxi. 

China's geology, whilst rich in CBM, has complex subsurface faults and anthracite coals, which pose technological extraction challenges.  Green Dragon and Greka have sought to develop an extraction process that is safe, economically viable and environmentally friendly.  Mr Grewal's experience in developing a large scale commercial business, whilst dealing with the challenges of the sector in which these companies operate, should be beneficial to all companies operating in the Shanxi Province.

Randeep Grewal, Chairman and Chief Executive of Green Dragon, commented:

"I am honoured and delighted to be chosen as the only non-Chinese participant in the Association. I have humbly accepted the role as Vice Chairman and will work hard to promote and encourage local enterprise to work alongside the Shanxi provincial government in order to promote harmonious economic development.

Green Dragon has, for some time, been focused on finding a way to safely and economically extract CBM gas in China that would not represent a potential risk to the environment.  It has taken a number of years  to get it right, but now that we have, we can and will accelerate our investment in the region.  As a foreign investor, it is the Association's hope that Green Dragon might become an example for others.  We can demonstrate that stakeholder value can be achieved with patience, a willingness to do things correctly and with a focus that benefits everyone in the Shanxi Province."

For further information on the Company and its activities, please refer to the website at www.greendragongas.com or contact:

Stephen Hill Green Dragon	[phone]
Dr Azhic Basirov / David Jones Smith &Williamson - Nomad & Broker	[phone]
Tim Redfern / Anu Tayal / Adam James Evolution Securities - Broker	[phone]
Paul Connolly / John Dwyer / Steve Baldwin Macquarie Capital (Europe) - Broker	[phone]
Judith Rawnsley CLSA - Broker	[phone]
James Henderson / Phillip Dennis Pelham Bell Pottinger - Investor Relations	[phone]
Robyn Joseph Kreab Gavin Anderson - Public Relations	[phone]

 

END

 

 

NRASSWSIDFFSEDA