Mozambique: Ncondezi agrees terms for negotiation with GE and CMEC

Issue 356 - 27 Oct 2017
Alternative Investment Market-listed Ncondezi Energy Ltd announced on 20 October that it has agreed terms in principle for a non-binding offer from China Machinery Engineering Corporation (CMEC) and General Electric South Africa Ltd, which will allow the companies to begin negotiations to develop, build and operate Ncondezi’s 300MW coal power plant and open pit coal mine in Tete province. A formal signing ceremony is planned to take place in Beijing in early November and a provisional deadline of 30 April 2018 has been set to negotiate a joint development agreement.

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