Mozambique: REVIMO tolls’ revenue increased to €27.3M in 2022

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Mozambique: REVIMO tolls’ revenue increased to €27.3M in 2022

11:23 CAT | 21 Aug 2023

FILE - For illustration purposes only. [File photo: REVIMO]

Revenues for the Mozambique Road Network (REVIMO), responsible for the construction, conservation and operation of several national roads, grew 67.3% in 2022 to just under 1.9 billion meticais (€27.3 million), with the new tolls implemented.

According to the 2022 report and accounts, to which Lusa had access on Friday, REVIMO closed the year with the management of 667.5 kilometres of roads in five provinces, with 12 tolls, six more in the space of a year, and a 181% growth in annual average daily traffic, which rose to 48,075 vehicles.

Overall, the volume of traffic on the roads managed by REVIMO increased to 17,547,355 vehicles last year, “mainly due to the start of tolls on the Maputo ring road”.

The company, which has 562 workers and is 70% owned by the Mozambique Road Fund, in addition to the Bank of Mozambique Pension Fund and the National Social Security Institute, each with a 15% stake, saw profits grow by almost 15% in 2022, to more than 144.3 million meticais (€2 million).

The concessions handed over by the state to REVIMO involve 287 kilometres of the N6 between Beira and Machipanda, 71.4 kilometres of the Maputo ring road, 12 kilometres of the R804 between Marracuene and Macaneta, 187 kilometres of the Maputo – KaTembe Bridge and connecting roads, 32 kilometres of the R453, between Macia and Praia do Bilene, 61.7 kilometres of the N101, between Macia and Chókwè, and 21.8 kilometres of the R448, between Chókwè and Macarretane.

The message from the board of directors in the document states that REVIMO “continued steadfastly on the path begun in 2019, towards consolidating its role as a strategic partner in the management and profitability of road infrastructure and related services”.

“To attest to the growth of this young company, in February, we started operating the Costa do Sol, Zintava, Cumbeza and Matola Gare toll plazas, in addition to the Macaneta toll on the Maputo ring road. With this milestone, we now operate a total of 12 toll plazas, three on the Beira Machipanda Road, four on the Maputo KaTembe Bridge Link Roads and five on the Maputo Circular Road,” the administration emphasises.

“The increase in toll plazas allowed us to reach another milestone in REVIMO’s growth: the number of vehicles serviced on the roads under our management reached 17.5 million, which was 181.1% above the figure recorded in 2021,” the message adds.

The administration also guarantees that “the major milestone for 2023 will be the completion of the maintenance work on the Macia – Praia do Bilene and Chókwè – Macarretane roads and the rehabilitation of the Macia – Chókwè road”, infrastructures “that will contribute to making better use of the agricultural potential of Chókwè and the tourist potential of Praia do Bilene”.

“With the completion of the works on these roads, we will start operating the N’waMaquevele, Zimbene, Lionde and Macarretane toll plazas.

The prospects of accelerated growth in the economy and the start of management of new infrastructures challenge us to continually improve the quality of the services provided to users and create the conditions to embrace more future projects,” the board of directors also admits.

REVIMO is a Mozambican private limited company, with its head office in Maputo, whose main object is the construction, maintenance and operation, under a toll system, of roads and bridges and their related infrastructure, “built or to be built”.

Source: Lusa