Intra Energy Corp. has announced the company has signed a Memorandum of Understanding (MoU) with Sinohydro Corp. of China to develop the 270 MW Ngaka coal-fired power station in Tanzania.
A special purpose vehicle will be built to undertake the project, and Sinohydro will be the majority shareholder.
The power station is designed as a 2 x 135 MW pulverized coal injection plant, one which is expected to consume 1.2 million tpy of coal. It will be located approximately 7 km from the minesite. The MoU is valid for 1 year, or until it is superseded by a Joint Venture Agreement.
IEC Chairman, Graeme Robertson, said: “Both Sinohydro and ourselves have worked hard to make this project a reality and in doing so have formed a close working relationship. The MoU represents the next stage in entering into a formal relationship to bring the project to fruition.”
Read the article online at: https://www.globalminingreview.com/exploration-development/26102016/intra-energy-corp-signs-definitive-mou/