300MW Power Project to cost P5.6 billion

The MDPP is being developed by CIC Energy and Chinese industrial giant, Golden Concord Limited (GCL), through their subsidiaries who moved the project a step further by signing a shareholders' agreement last week.

CIC Energy spokesperson, Erica Belling, said MDPP's capital costs would be raised through debt finance and equity, with the former comprising not less than 70 percent of the total required.  Project shareholders, CIC International and GCL Botswana, would raise equity for the balance of the capital costs.