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29 Apr 2019 | 14:25

Ncondezi Energy says signing of Mozambique project development pact delayed

Ncondezi Energy said the signing of a joint development agreement for its integrated 300 megawatt power and coal mine project in Tete Mozambique had been delayed beyond an end of April target.

Discussions on the agreement are being held with strategic partners China Machinery Engineering Corporationand General Electric South Africa.

'Positive developments continue to be made on the JDA and the company believes a final form JDA ready for execution is close to being finalised,' Ncondezi said.

'All parties continue to provide commitments to sign the JDA as soon as possible, and this will require more time than the current target date of the end of April 2019.'

'The company is targeting an update to the market as soon as the JDA is in final agreed form and ready for submission for signature by the each of the parties.'

At 2:25pm: (LON:NCCL) Ncondezi Energy Limited share price was +0.25p at 6.65p

Story provided by StockMarketWire.com
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