Mozambique says agrees restructuring deal with bondholders, no longer sharing gas revenues
File photo: Macauhub
The project to modernise the deep water port of Nacala, northern Mozambique, began on Thursday with a ceremony attended by the Minister of Transport and Communications, African news agency APA reported.
Minister Carlos Mesquita recalled that this project, with funding of US$273.6 million from the Japan International Cooperation Agency (JICA), will have a major social impact on the region, as well as an economic impact.
“This project will give direct employment to 400 citizens and allow companies operating in Nacala to benefit from it, since a wide variety of services will be needed,” he said.
The port, part of the Nacala Development Corridor, currently has the capacity to process 900,000 tons of miscellaneous cargo, and is still being used by Vale Moçambique to export coal mined in Moatize, Tete province.
Most of the cargo transiting the port, in addition to coal, comes from Malawi, which does not have direct access to the sea and uses the facility to import and export some of the products it needs, such as fertilizers, sugar, wheat, clinker and tobacco.
The port and the rail network in northern Mozambique are managed by the Northern Development Corridor, a partnership between Sociedade de Desenvolvimento do Corredor de Nacala and state rail and port company Portos e Caminhos-de-Ferro de Moçambique.Source: Macauhub
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