Sturrock

New Mozambican port to meet growing trade needs

Further development of Mozambique's ports sector can be expected after the country, along with Zimbabwe and Botswana, signed a memorandum of understanding (MoU) for the development of a deepwater port in the Technobanine region.

The project offers a modern port to meet the growing trade needs of all three countries and would allow private-sector companies to expand their role in Mozambique's port sector.

Under the MoU the project, which is estimated to cost US$7bn, will launch by 2012, with four years estimated for its construction. The industries the port will be designed to serve are gas, agriculture, minerals (coal for the most part) and crude oil. 

The MoU was signed by Mozambican Transport Minister Paulo Zucula and his counterparts Nicholas Goche (Zimbabwe) and Frank Ramsden (Botswana).

Speaking to journalists after the signing of the accord, Zucula said that the private sector has already guaranteed access to the necessary finance, and was just waiting for the formal commitment to be given by the three nations.

The planned port would offer Mozambique a new facility for its growing trade needs and would also support landlocked Zimbabwe and Botswana. Trade in all three countries has been increasing steadily, and is expected to continue in the future. 



Technobanine region is located in Mozambique's southernmost district of Matutuine.


Source: Business Monitor International, www.allafrica.com