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Edenville partnership with Sinohydro

By BFN News | 01:01 PM | Monday 23 January, 2017


Edenville Energy has agreed a strategic partnership for the Rukwa coal to power project with Sinohydro Corporation of China. Edenville and Sinohydro have signed a memorandum of understanding over the codevelopment of the project. Currently, Sinohydro has 486 international projects under construction in more than 72 countries, with a total contract value of nearly US$43bn. Sinohydro will complete a bankable feasibility study for the power plant project and Edenville will continue to have responsibility for the coal mine and fuel supply. The MOU sets out the basic terms to build a strategic partnership between Edenville and Sinohydro, with the aim of then proceeding to a formal joint development or joint venture contract, where Sinohydro will have the role of engineering, procurement and construction) contractor for the project. The MOU is valid for 18 months until 19 July 2018 and gives both companies exclusive rights to work with each other on the project during this time. The tasks to complete pre-development will be shared by the two companies, depending on the relevant experience and specialisation of each of Edenville and Sinohydro. At 1:01pm: (LON:EDL) Edenville Energy PLC share price was +0.51p at 1.28p Story provided by StockMarketWire.com

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