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Ncondezi provides project update

Published by , Editor
World Coal,

Following the announcements on 20 October 2017, 9 November 2017 and 27 December 2017, Ncondezi Energy Limited (Ncondezi) has provided an update on its process to conclude a binding joint development agreement (JDA) for the company’s integrated 300 MW power and coal mine project in Tete, Mozambique.

Key highlights of the project are as follows:

  • JDA remains targeted for completion by the end of July 2018.
  • Proposals for engineering, procurement and construction (EPC), as well as operations and maintenance (O&M) contracts received, but require additional information with a deadline of 23 April 2018 to receive complete proposals.
  • Internal review of EPC and O&M proposals in process, with a target completion by the end of May 2018.
  • In principle, support received from Electricity de Mozambique (EDM) and the Ministry of Mineral Resources and Energy (MIREME) for proposed strategic partners.
  • The company will seek, in principle, support for a new tariff envelope from EDM by end of June 2018.
  • Cash position as of mid-April 2018 is US$ 317 000, sufficient to cover activities until August 2018.

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