LONDON (Alliance News) - Edenville Energy PLC on Friday noted Tanesco's decision to cancel specific tenders in relation to power supply project.
Tanesco is Tanzania's state-owned power supplier.
Chief Executive Officer Rufus Short said: "Whilst this announcement and its effect may delay the tender process we do not believe this to be a significantly negative situation for our project or the future of coal to power generation in Tanzania."
The company is focused on developing a coal project in southwest Tanzania.
"Our initial enquiries to Tanesco imply technical issues to be resolved in order for the process to continue. Once Tanesco have resolved these areas we expect the process to continue," Short added.
The company also specified that Tanesco's decision does not apply to its commissioned mining operations at our Rukwa site.
Edenville shares were trading down 11% at 0.21 pence each.
