The minister also said that a loan of US$1.5 billion was under negotiation with the China Development Bank, which amount is considered enough to build the port. The port will have capacity to handle 20 million tons of cargo each year.
“A Mozambican technical team is in China negotiating this project and by the end of the year construction should begin,” the Minister said adding that the government also planned to build a railway line from Moatize, in Tete province, to Nacala and encourage steel makers to set themselves up in the region.
The Minister gave assurances that the government initiative, which is supported by the China Development Bank, would not clash with the investment programme set out by Brazilian multinational Vale.
Brazil’s Vale has announced plans to invest US$5 billion in construction of a deep water port in Nacala-a-Velha, along with a rail system linking it to the Moatize region, in Tete where the company is already mining coal. Vale currently transports the coal along the Sena railroad for export via the port of Beira. (macauhub)
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