Mozambique: President wants an end to "inferior revenues" from mining sector
Mozambique: Mota-Engil sees orders rise to $576M with extended mining contract
11:48 CAT | 03 Sep 2024
FILE - For illustration purposes only. [File photo: Mota Engil]
Mota-Engil announced this Tuesday an increase of US$576 million (€521 million) in its order book in the Mozambican market following the amendment and extension of the mining contract in Moatize, Tete province.
“Continuing the services provided under the mining project at the Moatize Mine, located in the town of Moatize, Tete province, 1,500 km [kilometres] north of the capital Maputo, Mozambique, Mota-Engil Africa has signed a new addendum to the current contract, which provides for the extension of its term to December 31, 2027,” reads a statement sent to the Securities Market Commission (CMVM) today.
According to the Portuguese construction group, the amendment and extension of this contract – established with Vulcan S.A., a subsidiary of the Jindal Group – “adds a value of US$576 million [around €521 million] to the order book of the Mozambican market, reinforcing the stability and predictability of contract mining activities in the African region, which sees its order book, in the said activity, reach €2.5 billion”.
Source: Lusa
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