The construction of the railway line between Moatize and the Sopinho region of Mozambique, including the deep water port of Macuse, is due to begin in the first quarter of 2017, said the president of the Zambezia Development Corridor (Codiza) .
Abdul Carimo statement was made at the end of a meeting with economic agents who had been skeptical about the possibility of moving forward with this project, which has an estimated cost of US$3 billion.
The President of Codiza, quoted by daily newspaper Notícias, said that to date over US$60 million have been spent on environmental impact and economic viability studies needed for project implementation.
The port of Macuse and the railway line stretching over 500 kilometres, which are considered particularly strategic for the transporting coal, are also fundamental to the viability of many projects planned for the Zambezi Valley.
The Macuse project is about 60-percent owned by the Italian Thai Development Company Limited, of Thailand, 20 percent by Mozambican state port and rail company CFM and the remaining 20 percent by the Zambezi Integrated Development Corridor (Codiza).
Source: Hellenic Shipping News