Vietnam invests US$600 million in Mozambique
Brazil’s construction company Andrade Gutierrez has identified a financial partner from China to resume the construction of the Moamba-Major dam, in Maputo province, interrupted by Brazil’s financial cut, Mozambique’s government announced.
The public works, housing and water management minister, João Machatine, said that Andrade Gutierrez and the supposed partner from China are working on terms of agreement to restart the work halted in 2016.
Machatine added that the project is going to be redesigned to incorporate the water supply network, which affected the cost of the project.
Initially, the works were estimated at $460M (€403M), but the its redesign increased to $700M (€614M).
Moamba-Major dam will not only produce 760 million cubic meters of water per year and supply the city and province of Maputo, it will produce 15 megawatts of electric energy annually.
The interruption was due to the financial cut by the National Bank for Economic and Social Development (BNDES) after the corruption scandals that affected Brazil.
The financing was part of a financial package of $4.7 billion (€4.1 billion) assured by the BNDES to African countries.Source: Lusa