China firm wins Tanzania coal, iron ore mine bid
China’s Sichuan
Hongda Co. Ltd. will invest $3 billion in a coal-fired power plant and
two iron ore mines in Tanzania, the state-run National Development
Corporation (NDC) said on Tuesday.
Sichuan Hongda is
in advanced talks with senior Tanzanian government officials to sign a
contract for the projects after it beat bids from more than 20
international companies including Rio Tinto and BHP Billiton.
“The Chinese firm was picked from a long list of bidders as the
preferred investor after winning an international bidding process. We
are now negotiating final details before a contract can be signed,”
said NDC’s board chairman, Chrisant Mzindakaya.
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