Projects funded by international partners are now exempt from VAT in Mozambique
File photo: Lusa
Mozambique’s cabinet extended the concession of the port of Beira, in the centre of the country, to the Cornelder company for another 15 years on Tuesday and approved a $290 million (€247 million) investment plan.
Cabinet spokeswoman, Ana Comoana, said at a press conference that the extension would begin in 2023 when the current 19-year concession ends.
Ana Comoana said the concession was extended because the company had agreed to undertake essential additional investment to increase capacity at the port.
Cornelder’s investment plan foresees upgrading 300 kilometres of national highway 6 and 317 kilometres of the Beira-Machipanda railway line.
These works would increase throughput at the port from the current 300,000 containers to 700,000 and from 750,000 tonnes to 1.2 million tonnes of cargo.
Cornelder is a joint venture between Dutch company Cornelder and the state-owned railway company Caminhos de Ferro de Moçambique (CFM).Source: Lusa