6 Bids-Land Based 4 Mtpa Trains x 3

[Palm]

I think from this that we also should note that this "protects" the State by giving it the sovereign right to buy in at anywhere up to the 22.5%. However, I think that also means that they could negotiate for more, but at that point The Company (IOC) would be protected from nationalization of the asset, and anything over the 22,5% would have to be at a "market" value and subject to negotiation on payment terms. IOC would have the right to ask for up front funding of anything above the 22.5%, but obviously could be nice guys and back-load it, depending on how much it is.