JOHANNESBURG (miningweekly.com) – Following months of talks, dual-listed Kibo Mining has awarded the engineering, procurement and construction (EPC) contract for its Mbeya coal-to-power project (MCPP), in Tanzania, to Shandong Electric Power Construction Corporation III (Sepco III)
Kibo CEO Louis Coetzee on Monday said the company awarded the contract within its time schedule. “Over the past two months the Sepco III bid has been the subject of intense scrutiny, clarification and negotiation and has passed all tests with flying colours.
“With certainty on the EPC price now we can confidently state that the MCPP is not only definitely viable, but also very robust and that it has exceeded all our expectations to date,” he added.
The final EPC price will now also allow Kibo to finalise the integrated financial model for the MCPP, as well as finalise the power purchase agreements with the local government when it concludes its policy changes on the procurement of power projects.