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CTPCY CITIC Ltd (PK)

4.2326
0.00 (0.00%)
02 Jul 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
CITIC Ltd (PK) USOTC:CTPCY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 4.232552 4.43 4.80 2 21:00:27

Sable, China's CITIC To Study Zimbabwe Coal and Power Project

21/09/2015 8:52am

Dow Jones News


CITIC (PK) (USOTC:CTPCY)
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By Alex MacDonald

 

LONDON--Sable Mining Africa Ltd.(SBLM.LN) said on Monday that it has signed a preliminary agreement with Chinese construction firm CITIC Construction Co. to develop a 600 megawatt coal-fired power plant at the company's 19,236 hectares Lubu coal project in Zimbabwe.

Sable, whose chief executive is Zimbabwe-born mining entrepreneur Andrew Groves, said that, according to the memorandum of understanding, Sable and CITIC Construction, a unit of China's investment group CITIC Ltd. (0267.HK), would examine the viability of a commercial coal-fired power station, built by CITIC and supplied by Sable.

The power plant would have the potential to supply electricity to both domestic and regional customers, given its location in the northwest of Zimbabwe, Sable said.

 

-Write to Alex MacDonald at alex.macdonald@wsj.com

 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


(END) Dow Jones Newswires

September 21, 2015 03:37 ET (07:37 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.

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