***While the EPC contract has been activated, the Company is working with Jinpeng on a number of minor contractual details such as mandatory Tanzanian insurances and shipping. Once settled a final EPC contract will be finalised. An initiation payment of US $1.6 million on the EPC contract will protect the project schedule and enable work in China to get underway. The signed EPC contract is a condition precedent of the Lindi Jumbo project loan drawdown.***
I thought I should break it down further for you One Bank cazz!!! Do try to keep on top of your interpretation of WKT’S Announcements. Project on time and on schedule!!! Oh sorry; without any power outages.LOL. DYOR.
Ann: Lindi Jumbo Project Update, page-247
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