MOZAMBICAN CONFERENCE YIELDS 1.5 BLN USD INVESTMENTS

INHAMBANE, MOZAMBIQUE, An investment conference held in the southern Mozambican province of Inhambane last Thursday and Friday has resulted in business partnerships for investments in projects value at a total of 1.5 billion US dollars.

Announcing the results from the conference, Inhambane Provincial Governor Daniel Chapo said over the weekend that the sum included investment in the production and processing of cashew nuts, the construction and operation of a clinic in the city of Maxixe, prospection for heavy mineral sands in Jangamo and Inharrime districts, the development of agriculture and livestock farming in Panda district, the processing of rice and pigeon peas, and several road rehabilitation projects.

The largest project announced was the construction of a regional road from Mapinhane in Inhambane to Pafuri, on the border between Gaza province and South Africa. A South African company, Capital Projects, announced Friday that 780 million USD were available to build this road. It is expected that work will begin in May 2018, and that the road will be completed within three years.

This road, which will more than 500 kilometres long, has been on the drawing board for more than ten years, and 500,000 USD have already been spent on a feasibility study. The Mozambican government, however, has always had difficulties in raising finance to carry out the project.

Now the money has been raised thanks to a partnership between Capital Projects and the China Harbour Engineering Company (CHEC). Capital Projects estimated the cost of building the road at 780 million USD, and its representative, Modise Khoza, told the conference: I’d like to announce that we have managed to raise this sum, and we are working with our partner, CHEC.

The general manager of CHEC, Simon Zhang, told the media that the road would allow traffic from South Africa to reach central and northern Mozambique without passing through Maputo and would prove very useful to mining and logistics companies in South Africa’s Limpopo province.

Source: NAM NEWS NETWORK