Ncondezi receives updated information on 300MW project

Ncondezi Energy updated the market on its process to conclude a binding joint development agreement for its integrated 300MW power and coal mine project in Tete Mozambique on Wednesday, confirming that updated information for the engineering, procurement, and construction, and operations and maintenance proposals were received on the 23 April deadline.

The AIM-traded company said the new information was currently under internal review by Ncondezi to ensure it was complete, and would allow the updating of the integrated financial model.

“The internal review is targeted for completion by the end of May, and an update will be provided to shareholders at the appropriate time,” said the Ncondezi board in its statement.

“There is no certainty that the transactions contemplated by this announcement will occur.”