China firm wins Tanzania coal, iron ore mine bid

Reuters, Tuesday 18 Jan 2011

Sichuan Hongda will invest some $3 billion in Tanzania, after topping long list of bidders, including Rio Tinto and BHP Billiton

China's Sichuan Hongda Co. Ltd. will invest $3 billion in a coal-fired power plant and two iron ore mines in Tanzania after seeing off competition from Rio Tinto and BHP Billiton, the state-run National Development Corporation (NDC) said on Tuesday.

"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," NDC's board chairman Chrisant Mzindakaya told Reuters.

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