M a r k e t N e w s
Kibo Mining adds General Electric to roster at Mbeya
Posted on : Saturday, 17th September 2016
Kibo Mining PLC (LON:KIBO) has pulled in one of the biggest names in world engineering to help construct the thermal power plant at its Mbeya project in Tanzania.
US giant General Electric has signed a memorandum of understanding to supply equipment, technology and its help to bring the project to a financial close.
Talks are now underway to make the MOU into a binding agreement.
Louis Coetzee, CEO of Kibo Mining, said: "We are extremely pleased that we have established this relationship with GE, one of the largest and technologically advanced companies in the World.
“We are looking forward to working with GE and benefitting from its expertise and reputation in the power sector."
Kibo recently redrew its agreement with Chinese partner SEPCO for the construction of the power plant at the Mbeya coal/electricity project in Tanzania.
Source : www.proactiveinvestors.co.uk
