HWANGE Colliery Company Limited is seeking to restructure the Built-Operate-Transfer deal for a coal gasification project with a Chinese firm into a joint venture, with the local coal mining giant becoming the majority shareholder. The Zimbabwe Stock Exchange-listed miner entered into a BOT arrangement (Hwange Coal Gasification) in 2007 with Taiyuan Sanxin Economic and Trade Company. Hwange Colliery holds 25 percent stake while TSETC holds the remainder.
Under the deal, the Chinese partners were supposed to set up a coke oven battery with an annual capacity of 300 000 tonnes while Hwange's contribution to the investment was to provide coking coal at a subsidised price.
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