Dual-listed Kibo Energy’s board has elected to extend the deadline for the final confirmation of the strategic development agreement (SDA) with Sepco III for the Mbeya coal-to-power project (MCPP), in Tanzania, for a further four months to March 30, 2019.
It has been agreed that this is a period of nonexclusivity during which Kibo can enter into discussions with alternative interested parties.
The Aim- and AltX-listed company’s relationship with Sepco III remains a strong and positive working relationship, Kibo noted in a statement issued on Tuesday.
This is reflected in the continued close cooperation to finalise the SDA, and on the development of the MCPP, where the parties have, among others, signed a joint development agreement and an engineering, procurement and construction contract.