Mozambique: Africa should be' firmer' in defending interests - President
FILE: Aerial photo shows the devastation left by Tropical Cyclone Idai in Mozambique, Saturday, March 23, 2019. (AP Photo)
Mozambican port and railway company CFM will invest US$200 million in the reconstruction of the Machipanda line to provide better services and to process more cargo for landlocked countries, such as Zimbabwe, announced the chairman of the state company.
The 318-kilometre Machipanda line linking the port of Beira to Zimbabwe is crucial for the economy of this country and the central region of Mozambique, having suffered damage in some parts of the route due to tropical storm Idai.
The announcement was made by the CFM chairman, Miguel Matabel, at the launch ceremony for five new locomotives and 300 platform wagons used to carry container cargo, held in Maputo at the company’s central station, according to Mozambican state news agency AIM.
CFM recorded a net profit of 2.5 billion meticais (about US$40 million) in 2018, with processed cargo at the company’s rail terminals totalling 7.5 million tonnes, or an increase of 19% compared to 6.3 million tonnes in 2017.
In 2018, the global port system grew by 4.5%, reaching 46 million tonnes of processed cargo compared to 44 million tonnes in 2017.Source: Macauhub