Ncondezi signs non-binding agreement to develop Mozambique project
JOHANNESBURG (miningweekly.com) – Aim-listed solar energy equipment supplier Ncondezi Energy has signed a non-binding offer (NBO) with China Machinery Engineering Corporation (CMEC) and General Electric (GE) South Africa to develop, construct and operate the integrated Ncondezi 300 MW coal-fired power project and openpit coal mine in Tete, Mozambique.
Under the NBO, Ncondezi has granted exclusivity to CMEC and GE until April 30, 2018 to conclude a binding joint development agreement (JDA) and tender on the project’s engineering, procurement and construction contracts.
During a visit to Beijing, where the NBO was signed, the parties also updated the work programme and timetable to complete the project due diligence. The appropriate responsibility and resource allocations were agreed to with a view to ensuring that key deliverables are met within the target timeframes.
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