Mozambique invites Chinese investors to electricity industry – report

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Mozambique invites Chinese investors to electricity industry – report

3:06 CAT | 25 Apr 2019

Deputy Minister of Energy and Mineral resources Augusto Fernando. [File photo: RM]

Mozambique is inviting Chinese investors to make up the financial deficit of the electric power master plan for the next 20 years, Radio Mozambique reports today.

The Deputy Minister of Mineral Resources and Energy, Augusto Fernando told reporters accompanying President Nyusi to China that the energy sector has a shortfall estimated at 65 percent of the US$34 billion budget foreseen for the infrastructure master plan.

Fernando admitted that the sector faced major challenges in light of the recently launched “Electricity For All” project, and Chinese capital could make up the difference, he said.

For now, there is some interest in participating in the Mphanda Nkuwa dam project on the part of Chinese companies.

In relation to the coal-fired power station in Tete province, Augusto Fernando added that the money for construction was assured, but around US$2 billion for the energy transmission network was still to be found.

Source: Rádio Moçambique