Business: Race To Mine In Kitui
According to the ministry of energy and petroleum, the three companies are set to have their financial bids evaluated after which a winning bidder will be chosen.
The said companies are; Transcentury Investments, Liketh investments Kenya and HCIG Kenya and the China North East Electric Power Engineering Corporation & China Coal Technology and Engineering Group.
The financial bids of the three will be opened on Monday next week at the ministry’s headquarters in Nyayo House.
The successful bidder is not only expected to mine coal, but also negotiate and sign a 25-year power purchase agreement with Kenya Power.
The mined coal will also be supplied to a 960 megawatts coal fired power plant that is being separately developed by a consortium led by Gulf Energy and Centum Investments Group.
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