Source - SMW
Ncondezi Energy said it has agreed to enter into exclusive negotiations with China Machinery Engineering and General Electric South Africa for them to develop a 300MW coal fired-power plant and open-pit coal mine in Tete, Mozambique.

A transaction would see the pair acquiring a minimum 60% equity stake in the integrated project, Ncondezi Energy said.

The existing agreement grants exclusivity until April 30 to conclude a binding joint development agreement.