Ncondezi Energy Limited has reassured investors over the joint development agreement (JDA) for its thermal power station project in Tete, Mozambique.

Michael Haworth, chairman, said significant progress had been made with its partners China Machinery Engineering (CMEC) and GE South Africa, adding that the final JDA draft is expected at any moment.

That might not now be this month he said, though no ‘material delays’ in signing the agreement are anticipated.

Howarth added that Ncondezi also joined the Mozambique delegation at China’s Second Belt and Road Forum for International Cooperation.

Fang Yanshui, CMEC Vice President, said: “CMEC is looking forward to realising the JDA soon and believes that together with GE and Ncondezi there is strong confidence to deliver the high-efficiency and advanced Ncondezi integrated power plant and mine.”

Ncondezi said it will update the market as soon as the JDA is in its final agreed form and ready for submission for signature by the parties.

— Proactive Investors