Ncondezi Puts $2B Price Tag On African Power Project

Law360, New York (September 13, 2012, 9:25 PM EDT) -- Ncondezi Coal Co. Ltd. notified investors Thursday that it will need to find a deep-pocketed equity partner to help finance the 1,800-megawatt coal-fired power plant it wants to add to its planned Mozambique thermal coal mine, which it estimated will cost $2.25 billion.

The ambitious power project — part of a bigger plan to develop a $376 million mine in Mozambique’s coal-rich northwestern Tete province — will require an initial investment of $504 million to establish 300 megawatts’ worth of generating capacity, plus $50 million to...
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