CIS in P2.7B takeover negotiations

Frustrated by unyielding efforts to acquire a Power purchasing agreement with South Africa's Eskom, who were supposed to be the off takers of the MEP, the Botswana Stock Exchange-listed company looks set to offload the project after receiving the second takeover offer from another Indian group in a month.

CIC Energy is developing the Mmamabula Energy Complex, which comprises four projects, at its Mmamabula Coal Field in the south eastern part of the country. The most advanced project is the power station and integrated coal mine project, known as the Mmamabula Energy Project.