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Edenville delighted by support from EPC groups

By BFN News | 08:17 AM | Wednesday 14 December, 2016


Edenville Energy has issued an update on the current status of engineering, procurement and construction) work at the Rukwa coal to power project in Tanzania. Key points: - Proposals for 120-135 MW power plant construction obtained from several EPC groups, including an option for lower cost, near term construction - At this stage, the company has not tied itself to a particular group in order to draw on the knowledge and experience of different groups before finalising the most appropriate deal for Edenville - Independently produced financial model supports previous estimates and demonstrates a robust project - The company continues to pursue opportunities for early small-scale mining and is in discussions with several potential off-take buyers of Rukwa coal - The project was visited by the Tanzanian deputy commissioner of mines in early December to discuss enlargement of the Mkomolo mining licence Chief executive Rufus Short said: "We are delighted by the support we are receiving from various EPC groups. The extensive work that they have undertaken in conjunction with Edenville staff has validated the potential for our coal to power project. We are now investigating detailed proposals to advance the project alongside the Tanzanian government. These ongoing discussions, coupled with the work we are doing to secure early stage mining at Rukwa mean these are very busy and exciting times for Edenville." At 8:17am: (LON:EDL) Edenville Energy PLC share price was +0.03p at 0.43p Story provided by StockMarketWire.com

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