Govt blocked grandiose Solid Energy plans in 2009

Mon, 25 Feb 2013

Feb. 25 (BusinessDesk) - The government blocked proposals in 2009 from its coal mining company Solid Energy for a billion dollar capital injection to allow it to become "the Petrobras of this country," Prime Minister John Key says. The Solid Energy plan grew from encouragement by the last Labour-led government for state-owned enterprises to expand their activities and would have arrived at the Cabinet table at a time when then Energy Minister Gerry Brownlee was entertaining advice from other quarters to establish a national oil company. NOC's...

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