CIC still bullish about Mmamabula

In a statement released on Tuesday, CIC Energy, which is listed on both the Toronto and Botswana bourses, said it had extended the Engineering, Procurement and Construction (EPC) contract, originally signed by its subsidiary Meepong Energy, with Shanghai Electric Group in March 2009.

 "This extension maintains the fixed price for this lump sum turnkey contract for the engineering, procurement, construction, testing and commissioning of the power station for the Mmamabula Energy Project," the statement says.