, NAIROBI, Kenya, Nov 25 – The Ministry of Energy and Petroleum has selected three firms for the concessioning of the Mui Basin Coal Block A (Zombe-Kabati) and Coal Block B (Mutitu-Itiku).
The firms include Transcentury Investments Limited, Liketh Investments Kenya Limited and Northeast Electric Power Engineering Corporation.
In a statement sent to newsrooms, the ministry says that it had received four submissions and the three firms were evaluated to proceed to the Request for Proposals (RFP).
“The targeted date for issuance of the RFP to the three successful firms is Tuesday 2nd December, 2014 at 10am,” the statement read.
Among the conditions spelt out by the government for investors seeking to extract the remaining coal reserves in Mui Basin is proof of ability to raise investment funds in excess of Sh17.6 billion among other tougher conditions.
Prospective investors were also expected to demonstrate evidence of technical capability and a history of coal mining projects of similar nature in at least three developing countries.
Transcentury Investments Limited which is the lead financial partner is working with Continental Coal (Mining and Operations Partner) and Power Machines OJSC (Technology Partner).
Liketh Investments Kenya Limited is working with HCIG Energy Investments Company Limited while China Northeast Electric Power Engineering Corporation (NEPC) and China Coal Technology & Engineering Group (CCTEG) are the other consortium.