MACAUHUB NEWS SUMMARISED FOR MOZAMBIQUE From 04th October to 08th October 2013 Rail cargo transport begins between Mozambique and Zambia October 4th, 2013 A train carrying 1,050 tons of inorganic fertilizers has left the port of Beira in central Mozambique, headed for Lusaka, the capital of Zambia, along the Machipanda railroad according to Mozambican daily newspaper Notícias. The newspaper added that the train is the first to travel to Zambia in 25 years, following a shut down of the service during the 1976-1992 civil war and later due to failures to meet contractual obligations by the company running the Beira railroad system. These first 1,050 tons are part of a bigger lot of 10,000 tons at the port complex. The cargo train was made up of 25 trucks that on their return will carry copper for export to the European, Asian, American and Australian markets. Zambia is the second Southern African Development Community (SADC) country, after Zimbabwe, to receive and send cargo to and from the port of Beira by rail, over a distance of some 1,000 kilometres on a journey that takes at least 10 days. At the ceremony to mark the re-launch of the rail service, the governor of Sofala province, Félix Paulo said that between the beginning of the year and the end of September 2.8 million tons of cargo had been carried on the two railway lines that make up the Beira railroad system, which was an increase of 32 percent against the same period of 2012. Mozambique receives eight proposals for construction of natural gas refineries Eight foreign companies have presented proposals to the Mozambican government to build two natural gas refineries in the Rovuma basin, said Mozambican oil and gas company Empresa Nacional de Hidrocarbonetos (ENH), which manages the States’ mining resources stakes. The chairman of ENH, Nelson Ocuane, said that the eight large companies had put forward proposals following a tender launched by the government for construction of an onshore gas refinery and another offshore refinery, in the Rovuma basin, northern Mozambique. For construction of the refinery at sea proposals have been made by US company Bechtel, a consortium of Japan’s JGC Corp and US company Fluor Corp, and another from Japan’s Chiyoda Corp partnering with the Chicago Bridge & Iron Company (CB&I). For the onshore refinery proposals have been made by Luxembourg based company Subsea 7 and France’s Technip, and US company MacDermott, according to the Mozambican press. The Mozambican government expects natural gas production in the Rovuma basin to begin in 2018, and so far reserves are estimated at 180 trillion cubic feet, with an expected increase to 200 trillion cubic feet after further prospecting work. Companies sign contracts to mine coal in Mozambique Midwest Africa and the Rio Tinto group plan to invest over US$4.7 billion in coal mining in Tete province, Mozambique, under the terms of mining contracts signed Thursday in Maputo, Mozambican daily newspaper Notícias reported. Midwest Africa Ltd (MAL), an Indian-owned company base din Mauritius, has plans to invest US$1.416 billion in Ncondezi whilst Anglo-Australian group Rio Tinto will invest US$3.3 billion in its “Zambeze” project. The feasibility study for the Midwest Africa project found estimated reserves of 453.92 million tons, of which 363.71 million are coking coal and 90.21 million tons are thermal coal. Rio Tinto’s Zambeze project will be carried out in phases and the first is expected to mine 3.5 million tons, which will then be doubled to 7 million tons in the second phase. In a third phase production is expected to reach 12 million tons. In both cases the companies have set aside 10 percent stakes for Mozambicans to be involved in the projects, 5 percent of which will be freely given to the Mozambican state and the remaining 5 percent will be sold to Mozambican individuals or companies. Indian government approves acquisition of stakes in oil block in Mozambique The Indian government has approved the deals involving state groups Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to acquire two 10 percent stakes in an oil block in Mozambique, Indian newspaper the Economic Times reported. The first deal was made in June as part of a partnership between ONGC Videsh, the foreign arm of ONGC and Oil India and involved acquisition of a 10 percent stake in the Area 1 block of the Rovuma basin, northern Mozambique, from Indian group Videocon Industries for US$2.475 billion. The second deal was announced in August and involves an acquisition of a 10 percent stake by ONGC Videsh in the same block put up for sale by US group Anadarko Petroleum for US$2.64 billion. Both groups have announced they would take on debt to pay for these acquisitions and the Indian government has requested that they find foreign financing so as not to reduce the country’s foreign reserves. Bank to support businesswomen inaugurated in Mozambique The “Mulher Caixa de Poupança e de Crédito” bank, the first bank focused on businesswomen in Mozambique was inaugurated Wednesday in the city of Matola, Maputo province, Mozambican news agency AIM reported. The agency said it was the first financial institution focused on financial solutions for the needs of businesswomen. Board advisor Natividade Bule said that the new financial institution was the result of a partnership between women’s organisation “Ntamu”, and Gapi, a financial institution focused on development. “The initiative is intended to serve and give priority to the businesses of women in the country, to attract their savings and make salary and pension payments, in order to promote greater financial inclusion,” said Bule. Sweden’s deputy Prime minister makes official visit to Mozambique October 7th, 2013 Sweden’s deputy Prime Minister, Jan Bjorklund, is due Monday to begin an official visit to Mozambique to promote two-way trade and encourage Swedish companies to set themselves up in Mozambique, the Mozambican press reported. The schedule for the visit includes meetings with Prime Minister Alberto Vaquina and deputy Finance Minister Pedro Couto, to discuss the economy and investments based on Sweden’s interest in the Mozambican market. In an interview with Mozambican newspaper Notícias, Sweden’s ambassador to Mozambique, Ulla Andrén, said that her country would continue to support the Mozambican budget as well as Mozambican civil society, “as we believe that pluralism in Mozambique needs to be expanded.” The Swedish government is preparing a new cooperation strategy for the 2014-2020 period, focused on economic development and creating jobs, which is a priority for Mozambique. The new strategy includes the agricultural sector, which employs most of the population, research and innovation, good governance and assistance to State institutions such as the Administrative Courts. As part of the Swedish deputy Prime Minister’s visit, a meeting will be held for representatives of the Confederation of Economic Associations, the Investment Promotion Centre, Banco Nacional de Investimentos and Swedish companies Ericsson, Atlas-Copco, ABB, Volvo Equipamentos, Eltel and Levas Flor. World Bank grants US$32 million loan to Mozambique The World Bank has approved a loan to Mozambique worth US$32 million to rebuild dykes, protection barriers ad other facilities needed following floods at the beginning of the year, the bank said in a statement. According to the statement, the funding, which will be provided by the International Development Agency (IDA), would support the project for Additional Finance for Development of Water Resources in Response to Floods, which involves repairing flood protection dykes and other facilities on the Limpopo River basin. Floods in January and February killed 113 people and left 170,000 people homeless, making this the worst natural disaster in Mozambique since the floods in 2000. The loan is provided by the International Development Agency (IDA), a World Bank institution set up in 1960 and focused on helping the world’s poorest countries, by providing zero-interest loans for projects and programmes that drive economic growth and reduce poverty. Angolan bank Banco Sol plans to expand to Namibia and Mozambique Angolan bank Banco Sol plans to begin its internationalisation by opening branches in other Southern African Development Community (SADC) nations, said the bank’s chairman in Luanda. At a conference to celebrate the bank’s 12th anniversary, Coutinho Nobre Miguel said that Namibia and Mozambique would be the first countries the bank would move into, according to Angolan state newspaper Jornal de Angola. Banco Sol in the next few months will also continue to diversify it products and services, offering innovative and advanced financial solutions to invest in development of technological facilities. In 2012 the bank posted a net profit of 30 billion kwanzas (US$307 million), had assets of 160 billion kwanzas and 132 branches across Angola’s 18 provinces. Spain to finance Spanish-Mozambican projects October 8th, 2013 The Spanish government plans to open a 75-million euro credit line for Spanish-Mozambican projects which will be presented this week at a bilateral business conference, Spain’s embassy in Maputo announced. The Spain-Mozambique Business Conference being held this 8 and 9 October in the Mozambican capital will be attended by 35 Spanish companies seeking “business cooperation and investment opportunities”, indicates the statement sent to Macauhub in Maputo. Mozambican Industry and Trade Minister Armando Inroga and the representative from the Spanish Institute for Foreign Trade, María del Coriseo, will oversee the event, to be marked by announcement of the 75-million euro credit line for Spanish-Mozambican projects. The 35 Spanish companies attending the forum are seeking business opportunities in the areas of “electric power, environment and water treatment, agriculture and transport infrastructures such as airports, harbours, roads and railways”. Macauhub News Agency Address: Av. Infante D. Henrique, 43-53 A The Macau Square, 8th Floor – L Macau Phone: (853) -28355315/6 Fax: (853) -28355466 E-Mail: [email protected]
Posted on: Wed, 09 Oct 2013 07:56:40 +0000
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