China New Energy says no progress has been made on Sunbird project

China New Energy said no further developments have been made on its non-binding memorandum of understanding with Sunbird Bioenergy Africa.

Meanwhile, the London-listed said it expected to reach an agreement over the design and construction of a 120m litre cassava to bioethanol plant in the Zimbabwe.

However, the project, located in the Machonaland Central Province, remains subject to the company concluding talks with its partners.

China New Energy shares were up 18.52% to 4.00p at 1429 GMT on Tuesday.