Ncondezi Energy said it was targeting completion of a joint development agreement for its 300MW Tete power and coal mine project in Mozambique by the end of March.

The company said it had engaged positively with a liaison committee set up by the Mozambican Ministry of Mineral Resources and Energy regarding the approval of the project timetable to deliver first power in 2023.

The project timetable has been signed off by the company’s potential strategic partners, Ncondezi said.

Completion of the joint development agreement and binding engineering, procurement, and construction and operations and maintenance contracts were targeted for the first quarter of 2019, it added.

– StockMarketWire.com