NewStream Energy Technologies Group Inc (NSGP)

[greenpar]

The delay in obtaining the final Chinese government approval of the project how many more approvals do we wait wait wait for the International Railroad Systems Co., Ltd. The joint venture agreement.

1.On June 5, 2009, the joint venture company was issued a Certifcate of Approval (Operating License) under a new name of Inner Mongolian Nuomenhan Clean Coal Company, Ltd

2.The award of the Chinese Government’s Certificate of Approval was issued on June 5, 2009

3 Currently awaiting the project’s final approval by the Chinese Government which we anticipate will take place during the second quarter, 2010

(8 billion line of credit)
Looks like funding the project is taken care of.
SMIRSC previously provided us with documentation supporting its financial viability through an $8 billion line of credit with the state-owned China Development Bank. However, the economic situation in China has deteriorated with the general decline in the world marketplace. While we believe this project is of particular importance to both SMIRSC and the Chinese government, any change in SMIRSC’s ability to meet its funding obligations would place the whole project in serious jeopardy.

*http://www.reportlinker.com/report/search/coverage/Asia:Eastern_Asia:China/keywords/%22clean+coal%22/mode/public