Intra Energy Corp. signs definitive MoU
Published by Angharad Lock,
Digital Assistant Editor
World Coal,
Intra Energy Corp. has announced the company has signed a Memorandum of Understanding (MoU) with Sinohydro Corp. of China to develop the 270 MW Ngaka coal-fired power station in Tanzania.
A special purpose vehicle will be built to undertake the project, and Sinohydro will be the majority shareholder.
The power station is designed as a 2 x 135 MW pulverized coal injection plant, one which is expected to consume 1.2 million tpy of coal. It will be located approximately 7 km from the minesite. The MoU is valid for 1 year, or until it is superseded by a Joint Venture Agreement.
IEC Chairman, Graeme Robertson, said: “Both Sinohydro and ourselves have worked hard to make this project a reality and in doing so have formed a close working relationship. The MoU represents the next stage in entering into a formal relationship to bring the project to fruition.”
Read the article online at: https://www.worldcoal.com/exploration-and-development/26102016/intra-energy-corp-signs-definitive-mou/
You might also like
Yancoal successfully completes the acquisition of an 80% interest in the Kestrel Coal Mine
Yancoal Australia Ltd has announced that it has successfully completed the transaction with EMR Capital Advisors Pty Ltd, Kestrel Coal (EMR) Limited, Adaro Capital Limited, and EMR Capital Management Limited.