info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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The construction of a U.S.$2.7 billion coal export railway and port terminal in the central region of Mozambique is expected to boost coal exports. The largest infrastructure project in the country yet, the Moatize-Macuse Logistics Corridor, is set to be launched in 2019 and completed in 2022.
The consortium is led by Thai Mozambique Logistica (TML), a subsidiary of the Ital-Thai Development (ITD) of Thailand, which won the project in 2013, and holds 60% of the capital. The TML is to be financed exclusively by Chinese capital through public banks targeting Africa, and China Export & Credit Insurance Corporation (Sinosure) based in Beijing, according to CLBrief. The World Bank, through the Multilateral Investment Guarantee Agency (MIGA) covers the political risk of such an investment. Mota Engil Mozambique and China National Complete Engineering Corporation, a subsidiary of the China Machinery Engineering Corporation, signed the construction contact in June 2017.
Local owners with 20% each are Mozambique railways (Caminhos de Ferro de Mocambique, CFM) and the Corredor de Desenvolvimento Integrado do Zambeze (Codiza). Local owners of Codiza are said to include Graca Machel; Olivia Machel, a daughter of Samora Machel; and Salimo Abdula, who often represented former President Armando Guebuza’s business interests.
