Big 'guns' marriage propel Mmamabula

A statement making the announcement says the agreement is meant to undertake the development of Phase One 2,100 to 2,460 megawatt power station and related 7.5 to 9.0 million tonne per annum coal mine.

Under the deal, CIC and IPR will indirectly hold a 50 percent interest. "The agreement (PDA) sets out the respective obligations of the parties in respect of Phase One of the project and provides for the establishment of an executive committee composed of representatives of both CIC and IPR", said the statement.