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Ncondezi Energy still awaiting Mozambique feedback on Tete power project
StockMarketWire.com
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Ncondezi Energy said it was still awaiting formal feedback from the Mozambique government on tariff arrangements for its proposed 300 megawatt coal-fired power project and coal mine in Tete.
Ncondezi and partners had submitted all agreed studies in December to the government and state power company Electricidade de Mocambique.
An engineering, procurement and construction power plant contract with China Machinery Engineering Corporation was nearing completion.
'Whilst we remain confident the Ncondezi project offers a uniquely advanced stage proposal with a competitive solution to Mozambique's energy generation targets we continue to await formal feedback from EDM and the government,' chief executive Hanno Pengilly said.
'The company is proactively engaging with both EDM and government to reach a conclusion as soon as possible.'
'In the meantime, we continue to progress other parallel workstreams including signing of the EPC agreement contract for the power plant with CMEC.'
'This is the largest construction contract for the project and we are in the final stages of completing it ahead of signing.'
At 9:07am: (LON:NCCL) Ncondezi Energy Limited share price was 0p at 3.8p
Story provided by StockMarketWire.com
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