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Kibo again extends development agreement deadline with Sepco III

11th December 2018

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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Dual-listed Kibo Energy’s board has elected to extend the deadline for the final confirmation of the strategic development agreement (SDA) with Sepco III for the Mbeya coal-to-power project (MCPP), in Tanzania, for a further four months to March 30, 2019.

It has been agreed that this is a period of nonexclusivity during which Kibo can enter into discussions with alternative interested parties.

The Aim- and AltX-listed company’s relationship with Sepco III remains a strong and positive working relationship, Kibo noted in a statement issued on Tuesday.

This is reflected in the continued close cooperation to finalise the SDA, and on the development of the MCPP, where the parties have, among others, signed a joint development agreement and an engineering, procurement and construction contract.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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