leadf
logo-loader
viewNcondezi Energy Ltd

Ncondezi Energy agree US$21mln in reimbursements for development costs with CMEC

Ncondezi Energy Limited's (LON:NCCL) Hanno Pengilly talks to Proactive about the historical development cost reimbursement negotiations with China Machinery Engineering Corporation (CMEC).

These costs are for the work on the integrated Ncondezi 300MW coal-fired power project and coal mine in Tete, Mozambique.

Pengilly says CMEC has agreed in principle to reimburse US$21mln, with the balance, relating to senior and project management costs, still subject to further negotiation.

He notes that US$21mln represents a premium to previously agreed historical development costs.

Quick facts: Ncondezi Energy Ltd

Price: 5.5002 GBX

AIM:NCCL
Market: AIM
Market Cap: £20.15 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ncondezi Energy Ltd named herein, including the promotion by the Company of Ncondezi Energy Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: Happy new year, happy new vaccine as AstraZeneca/Oxford...

FTSE 100 opened with a jump in the first trading day of the new year although coronavirus infections continue to surge. London’s main index added 120 points to 6,580 in early trading. The UK has begun the rollout of the COVID-19 vaccine produced by AstraZeneca PLC (LON:AZN) and Oxford...

3 weeks, 2 days ago

2 min read