Sese power project granted tax breaks

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.