Galp and AIESEC launch training program for young Mozambicans
Mozambique govt signs MOU with China’s CBStell to develop US$1.3 billion coking plant in Nacala
11:40 CAT | 09 Mar 2017
Centro de Informação e Negócios
The Mozambican government, represented by the Ministry of Industry and Commerce, has signed a memorandum of understanding with CBStell to develop a coking plant in Nacala, Nampula province budgeted at about US$1.3 billion and with an annual capacity of about four million tons of coking coal.
Construction is scheduled to start in the second half of the year.
The memorandum was signed by the Permanent Secretary of the Ministry of Industry and Commerce (MIC), Carla Soto, and the Chairman of the Board of Directors of China Brazil, Xinnenghuan International Investiment (CBStell). The ceremony was witnessed by the Deputy Minister of Industry and Commerce, Ragendra de Sousa and the Chinese Ambassador to Mozambique, Su Jian.
Speaking during the event, Ragendra de Sousa said that the inauguration of an industry of this nature created “very attractive” economic conditions for investment in the country. He pointed out as a challenge for the Mozambican authorities, the training of a labour force which would allow the industry to be managed by national citizens, and said that the implementation of the project would help reduce the country’s dependence on raw material exports.
“For Mozambique, the project will contribute to better management of our raw materials, so we must train local labour as a way to monitor the competitiveness of the industry’s growth in the country,” he said.
CBStell’s managing director Zhang Shengsheng said construction work in Nampula would last about a year, after which the factory would directly create about 1,500 jobs. He also said that the project would stimulate the building of other factories nearby, creating a large industrial area.
Over the past five years, 92 Chinese direct investment projects worth about US$823 million have been approved in Mozambique, with the potential to create more than 14,000 jobs.
Source: Centro de Informação e Negócios
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