Edenville, Sinohydro sign MoU to codevelop Rukwa project
JOHANNESBURG (miningweekly.com) – Aim-listed Edenville Energy and Chinese State-owned hydropower engineering and construction company Sinohydro Corporation have signed a memorandum of understanding (MoU) for the codevelopment of Edenville’s integrated Rukwa coal-to-power project, in western Tanzania.
The MoU, which is valid for 18 months and gives both companies exclusive rights to work with each other on the project, sets out the basic terms for the parties to build a strategic partnership and is aimed at the establishment of a formal joint venture (JV) contract.
Should the parties form a JV, Sinohydro will be the engineering, procurement and construction contractor for the project.
Under the terms of the MoU, Sinohydro will incur costs of about $1-million on work related to a bankable feasibility study on the proposed Rukwa power plant.
The company’s project team will also use their experience of working with Chinese and other financial institutions to assist in exploring appropriate funding options available for development capital to be used for construction.
Edenville, meanwhile, will be responsible for the continued development of the coal mine portion of the project, along with the permitting and legal aspects to advance the power plant to its construction phase.
"Sinohydro's broad experience in Africa and its presence in Tanzania for over a decade give us the confidence that the company can execute the construction process efficiently and cost effectively,” Edenville CEO Rufus Short said in a statement on Monday.
Edenville’s share price on the LSE rose by 20% early on Monday.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
