Kibo Mining PLC (LON:KIBO) has concluded the final bid clarification with regard to the construction of the transmission line that will take power from the Mbeya Power Plant (MCPP) in the Songwe District of Tanzania to the TANESCO Mbeya sub-station.
The AIM-listed mineral exploration and development said in a statement that the bid clarification workshop for the Engineering, Procurement and Construction (EPC) contractual work, which has been divided into two lots, was completed over the last week.
READ: Kibo effectively navigating operating environment in Tanzania, funding talks continue
Following completion of various technical studies related to the transmission line, most notably an in-country line reconnaissance and survey by a combined Tractebel Engineering and SEPCO III team, a final bid was prepared and submitted to the company by SEPCO III.
Kibo Mining and Tractebel Engineering conducted and concluded a clarification workshop with the SEPCO III technical team on 21 and 22 August 2017 in Beijing, China to finalise the technical component of the Power Line Construction EPC contract.
That contract is to be awarded to SEPCO III, subject to final technical, financial and operational benchmarking that will be conducted by Tractebel Engineering over the course of the next month.
Louis Coetzee, Kibo Mining’s CEO, said: "Finalization of the transmission line bid concludes all technical development work on the MCPP prior to financial close.
“The Company is also continuing to make significant progress on the remaining work streams it has reported on over the past two months, with further updates to follow in this regard."