Q: Hi Guys
In regard to IPL's new Heartland Petrochemical Complex I understand at a approximately $4.0 billion cost it is a fairly big bet on the future and some of these things have cost overruns but this one, this far, seems to be on budget and will provide a new stream of income for IPL going forward, yet everyone seems to be negative on this project and the stock. And it seems given the cost of gas locally it should be successful at producing polypropylene at a profit. Could I get your thoughts on the project and stock in terms how risky it is going forward and if you think when the project is finished this could create a bit more interest with investors? Do you know whether they have contracts in place yet for the finished polypropylene? And finally do you think they have a solid Management team in place at IPL?
Thanks
Stuart
In regard to IPL's new Heartland Petrochemical Complex I understand at a approximately $4.0 billion cost it is a fairly big bet on the future and some of these things have cost overruns but this one, this far, seems to be on budget and will provide a new stream of income for IPL going forward, yet everyone seems to be negative on this project and the stock. And it seems given the cost of gas locally it should be successful at producing polypropylene at a profit. Could I get your thoughts on the project and stock in terms how risky it is going forward and if you think when the project is finished this could create a bit more interest with investors? Do you know whether they have contracts in place yet for the finished polypropylene? And finally do you think they have a solid Management team in place at IPL?
Thanks
Stuart