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    Mozambiue-Economy-Infrsastracture

    Mozambique sign $2bn infrastructure deal

    APA-Maputo (Mozambique)

    A consortium headed by the Portuguese construction group Mota-Engil and the Chinese National Complete Engineering Corporation signed a contract with Thai Moçambique Logística to build a 500-kilometer railway line and a port in Mozambique's central province of Zambezia, APA can report on Thursday.

    In a media statement, the group said the project, which is part of the logistics corridor that will connect the Moatize mining area in Tete province to the port of Macuse in Zambézia province,

    The project will have a contractual duration of 44 months at the cost of $2 389 million.

    China National Complete Engineering Corporation is a subsidiary of the China Machinery Engineering Corporation listed on the Hong Kong Stock Exchange, which is the first consortium in which Portuguese and Chinese companies enter on an equal footing.

    The statement said that given the possibility of a high level of goods and services coming from China, "it is very likely that the Chinese export credit institutions, in the case of China's Export and Import
    Bank, could contribute positively to the process financing of the project."

    Construction work may commence in 2018 as soon as the client's negotiations for project financing are completed.

    One of the great peculiarities for the Macuse line is that it draws interests from four Indian companies licensed for coal mining in Mozambique and that need the resource to power their thermal power stations.

    This is because in Macuse is the port of Macuse, which should have capacity to receive ships of up to 80 thousand tons allowing a greater competitiveness in relation to the Port of the city of Beira, which
    receives smaller ships.

    Mozambique, a former Portuguese colony which emerged from civil war two decades ago, boasts some of the world's largest untapped coal reserves and is expected to become a key source of sought-after premium, hard coking coal, used in steel making.


    CM/abj/APA

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