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20 Mar 2019 | 14:55

Ncondezi Energy close to finalising development pact for Mozambique project

Ncondezi Energy said it was making 'good progress' finalising a joint development agreement with partners for an integrated 300MW power and coal mine project in Tete Mozambique.

Documentation had been reviewed and commented on by all parties, and there was an understanding of the outstanding drafting that needed to be agreed, the company said.

'The parties have agreed to work towards fully executed documents before the end of April 2019,' it added.

Financial close for the project is being planned for the first half o 2020, with commissioning expected in 2023.

At 2:55pm: (LON:NCCL) Ncondezi Energy Limited share price was -1.05p at 5.95p

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