1st Dec 2015 10:41
LONDON (Alliance News) - China New Energy Ltd on Tuesday noted the rise in its share price in morning trade and said no further developments had been made on its non-binding memorandum of understanding with Sunbird Bioenergy Africa Ltd.
The pair expect to sign a deal in December for the design and construction of a 120.0 million litre cassava to bioethanol plant in the Machonaland Central Province of Zimbabwe.
The signing of the deal remains subject to concluding talks with project partners.
China New Energy shares were up 17% to 3.95 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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