AltX- and Aim-listed Kibo Mining has signed a new, redefined agreement with China-based contractor Sepco III, which can now earn the right to become the sole bidder for the engineering, procurement and construction (EPC) contract to build the power plant component of Kibo’s Mbeya coal-to-power project (MCPP), in Tanzania. The agreement, which replaces the existing joint development agreement between the parties, will see Sepco awarded the EPC contract in December, subject to its bid proposal meeting the EPC specification defined by Kibo and the project’s definitive power feasibility study consultants, Tractebel Engineering, along with several other conditions outlined in the new contractual agreement.
