Mozambique's necessary infrastructure work will receive a boost from foreign loans.
February 16, 2012
Read time: 1 min
RSS Mozambique's necessary infrastructure work will receive a boost from foreign loans.
The Portuguese bank 2754 Caixa Geral de Depositos (CGD) is giving Mozambique's Road Fund access to a loan worth US$431 million (€300 million). The funds will be used to improve existing road links and develop the country's network. The Portuguese contractors 3210 Mota-Engil Group and 2745 Soares da Costa have won road project tenders in Mozambique and are carrying out work in the country at present. Meanwhile upgrades are underway to the Nampula-Ligonha River and Lurio River-Namialo sections of Mozambique's No1 National Road in Nampula province, with funding being provided by the Millennium Challenge Account. Work on the $135 million project to improve a 235km of the highway is expected to be complete by the end of April 2013. A consortium comprising 2747 Razel and CMC will carry out the $49 million upgrade to the 103km section of the highway from Ligonha River-Nampula. Work on the Lurio River-Namialo section of highway is being carried out in two sections. The 2752 Casais and 2753 Monte Adriano consortium from Portugal will work on the 75km Lurio River-Mecutuchi Bridge stretch in a deal worth $47 million, while the 75km Mecutuchi Bridge-Namialo section of highway will be upgraded by CMC in a deal worth $43 million.
