Mozambique Elections: EU, UNDP to provide €1M to raise transparency in election process
File photo / Maputo
The Brazilian ambassador to Maputo, Rodrigo Soares has said his country invested $9 billion in Mozambique spread over the last ten years in different socio-economic projects. ”These are projects related to mining, construction and agriculture, as well as the Nacala-a-Velha logistical corridor project, a single investment of $4.5 billion, which includes the construction and rehabilitation of the 912-km railway linking the Moatize Coal Mine in Tete to the Terminal Port Multi-user of Nacala-a-Velha, in the province of Nampula”, the diplomat said on Monday during his visit to the province of Nampula.
The Nacala-a-Velha logistical corridor project, in an overall investment of about $ 4.5 billion, which includes the construction and rehabilitation of the 912-km railway linking the Moatize Coal Mine in Tete to the Terminal Port Multi-user of Nacala-a-Velha, in the province of Nampula.
The promotion of cotton in the Zambezi valley and Prosavana still in the pipeline are some of Brazil’s investments in Mozambique.
Mozambique, one of Africa’s fastest-growing economies, has attracted investors such as Brazil’s Vale and London-listed Rio Tinto that are eager to develop some of the world’s largest untapped coal and gas reserves.
“Mozambique is likely to remain one of the most dynamic economies in sub-Saharan Africa, in part thanks to the expected natural resource boom,” the diplomat added.
The former Portuguese colony, which emerged from civil war two decades ago, boasts some of the world’s largest untapped coal reserves and is discovering vast natural gas deposits along its white-sand Indian Ocean coast.
Expectations run high as miners such as Brazil’s Vale and Rio Tinto and oil majors U.S.-listed Anadarko Petroleum and Italy’s Eni compete for a share.
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