CFM said the investment has been necessitated by rising demand for rail passenger and cargo services.
The new locomotives were imported from the United States while the wagons were purchased in the neighbouring South Africa.
The firm revealed that the locomotives, which are expected in Maputo this week, will have the capacity to pull wagons carrying a cargo up to 2,700 tonnes, up from 1,800 tonnes of the equipment currently in use.
Over two decades have passed since CFM acquired new wagons. As a result, over the last few years it was forced to make constant and costly repairs of the existing rolling stock to fulfil its commitments with its clients.
To minimize the shortage of rolling stock, CFM have also been renting wagons from neighbouring countries, especially in Zimbabwe.
With this acquisition, the CFM will be able to meet the needs of its customers, in both Ressano Garcia and Limpopo railway lines, which link the port of Maputo to South Africa and Zimbabwe respectively.