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AIM:NCCLFRA:9NE
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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.

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Price: 1.35 GBX

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on 14/6/21

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