Mozambique Ports and Railways: CFM operating results grow 274% in 2020 – Noticias

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Mozambique Ports and Railways: CFM operating results grow 274% in 2020 – Noticias

4:18 CAT | 19 Apr 2021

Photo: Minister of Communications and Transport on Facebook

The company Ports and Railways of Mozambique (CFM) increased its operational results by more than 270% in 2020, according to a statement by the Chairman of the Board of Directors, Miguel Matabel.

Speaking during the company’s 24th board meeting, he stated that operating results stood at about 4.7 billion meticais, an increase of 274% compared to 2019, when operational performance stood at around 1.3 billion meticais.

As to results before taxes, the company in 2020 registered about 7.4 billion meticais, a growth of 138% over the about 3.1 billion meticais earned in 2019.

Machipanda line and Pemba port

The rehabilitation and expansion of the Machipanda railroad, the construction of the customs terminal and other improvements to the Ressano Garcia line, and the expansion of the Port of Pemba were among the investments reinforcing the position and role of the railroad and ports sector in the country, Minister of Transport and Communications Janfar Abdulai, told the board meeting.

The minister challenged the company to gradually reintroduce passenger transport to Chicualacuala on the Limpopo line, and on the Moatize and Marromeu routes on the Sena line, where demand for the service is known to be strong.

The resumption of the service must however comply with Covid-19 preventive measures, which led to the interruption of these routes, he noted.

“The exhortation arises due to the need to respond to the clamour of the communities living in the areas served by these services, which the company was forced to interrupt due to the worsening of the Covid-19 pandemic in the country. The work to be carried out must indicate ways to create the necessary conditions so that we can resume service with the necessary security,” Abdulai told the meeting.

Minister Abdulai also noted that CFM was investing in rolling stock.

“We are pleased to note the ongoing investment in the acquisition of five new locomotives, 90 coaches and five railcars, at a cost of around US$95 million, financed in the framework of cooperation between the governments of Mozambique and India,” he said.

Minister Abdulai said that CFM would later this year acquire another 300 wagons to reinforce its cargo transport capacity. “Some of this equipment is already on its way to Mozambique, and should be delivered to CFM in the next few days,” he concluded.