Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to announce that the Preliminary Environmental Review (PER) for the Phase 1 Chemical Plant site within the Khalifa Industrial Zone Abu Dhabi (KIZAD) has been approved by the Environment Agency – Abu Dhabi (EAD). A Musataha Agreement with Abu Dhabi Ports (ADP) is under review, which entitles its holder to construct a building or to invest in, mortgage, lease, sell, or purchase a plot of land belonging to a third party for a period of up to 50 years.
In the June 2020 quarter, a pre-operations Industrial Licence was awarded for the Chemical Plant development by Abu Dhabi Frees Zone and an Environmental Permit Application was submitted to EAD, which subsequently advised that a PER is required for permitting rather than a more comprehensive EIA. This is testament to the Project’s modest environmental and social impacts.
A comprehensive Environmental & Social Impact Assessment (ESIA) for the Chemical Plant has however been completed to support the Company’s debt funding initiatives.
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