4th Mar 2014 13:14
LONDON (Alliance News) - Ncondezi Energy Ltd Tuesday said it has received four bids for the engineering, procurement and construction (EPC) contract for its 300 megawatt power plant project in northern Mozambique.
The thermal-coal producer said the bids, which were all from internationally recognised firms, have all been submitted as fixed-price lump-sum turnkey contracts, and Ncondezi and its advisers are currently evaluating the bids and will provide an update during the second quarter.
Ncondezi said the power plant EPC process is being run in parallel with the mine and common infrastructure tender process, which has commenced with binding bids expected to be received by the end of the first quarter.
The company initiated the EPC contract binding bid process in February stating that the contract will include the development of plans for the coal processing plant, associated coal handling facilities and infrastructure at the site, and that 11 firms submitted expressions of interest following site visits.
Ncondezi shares were up 3.7% to 6.35 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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