Chinese business owners assess potential of Mozambique’s Zambezi valley

1 June 2006

Maputo, Mozambique, 01 June – A delegation of Chinese business owners met Tuesday in Maputo with representatives of the Planning Office for the Zambezi Valley (GPZ), to assess investment opportunities in that region of central and northern Mozambique.

The group, made up of 10 business owners and representatives of Chinese companies, is due to stay in Mozambique until the weekend and meet with all players involved in Zambezi Valley projects.

The Zambezi valley is the richest area in Mozambique in terms of agricultural and farming resources and power resources such as the Cahora Bassa hydroelectric dam (HCB) and the country’s most important coal mines, the concessions for which have been granted to Brazilian mining giant, Companhia do Vale do Rio Doce (CVRD).

The aim of the visit is investment in the Zambezi Valley, a region of central Mozambique covering around 225,000 square kilometers, including Cahora Bassa and with the possibility of creating 1,000 dams for power and irrigation.

The region is also rich in mineral resources such as coal at Moatize, which is operated by CVRD and has 60 percent of high value forest species.

The Chinese mission is headed by Wang Cheng An, the secretary-general of the Forum for Economic and Commercial Cooperation between China and Portuguese-speaking Countries.

The companies included in the mission are: Zhen Hua Harbour, Eximbank, China National Construction and Agricultural Machinery Import &Export Co, China Minmetals Co, China International Engineering & Materials Co, ChinaChem and China Harbour.

The delegation traveled to Mozambique on the initiative of Zamcorp, a company set up in April in Maputo, with Mozambican, Macau and Portuguese capital, which is aimed at capturing preferential Chinese investment in the Zambezi Valley. (macauhub)