Sese power project granted tax breaks

Friday, April 28, 2017

The Sese power plant will export power to Zambia

The Sese power project has been granted tax break by government, a move that will be seen as a strategic effort to woo private sector investments into the coal and energy sector.

ASX-listed coal and energy junior, African Energy on Wednesday announced that the Ministry of Finance and Economic Development has approved the Sese Joint Venture’s (JV) application for a Manufacturing Development Approval Order (DAO) for the proposed 450 MW Sese power station.

“Sese Power, the JV entity responsible for power generation, has been granted a five year tax holiday from its first year of commercial operation and thereafter a preferential 15% company tax rate,” the company said.

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