Mumbai-based May Flower has agreed to invest along with Delbi to jointly develop a coal mine in Ethiopia over a three-year period. May Flower will import mining machinery, mining experts as well as the required finance for exploration and mining works.
May Flower will own 70 per cent of company shares, while Delbi will retain 30 per cent, Alemayehu Deressa, General Manager of Delbi company said. Delbi will be responsible for all payable accounts and they will bring the necessary technology, know-how and financing required for the exploration and mining activity, he added.
A joint management team comprising officials drawn from both companies will be set up. The Delbi coal mine is located in Oromia regional state, Jimma Zone, 400 km from the capital, Addis Ababa. About 53 percent of Delbi Coal Mining S C is owned by the Endowment Fund for the Rehabilitation of Tigray (EEFORT) and the balance 47 percent is held by the Oromia Investment Group.
The Delbi Coal Mining concession covers a 39.2 square kilometer lot with an estimated coal deposit of 11.4 billion tons.
Ethiopia's coal reserves, ranging from lignite to bituminous deposits, are estimated at around 376 million tons. The country has the potential to generate more than 5,000 MW from its geothermal energy resources from where only 7.3 MW power is currently being produced at a pilot plant, according to data from the Ministry of Mines.
I wish to start pvc / pp electric wire unit in Delhi. What kind of information I can get if I subscribe for your magazine
Pls invite me all auction in gujarat
we are doing business developing for solar power ,thermal power , customer supporting and we have 45 mw splar power on hand needs investors.....
pls call +910842559230