Maputo, Mozambique, 19 Sept – Mozambican company Valey of Macs, of the Cabora Capenta group, is to invest US$3 million over the next ten years to produce a plant from which a product for chocolate production is extracted, according to Mozambican newspaper Notícias.
The paper added that the investment is for planting macadamia and its products – used for making chocolate and table oil – will be exported to South Africa, before expanding its export markets to Asia and Australia.
The group expects to begin exporting in 2009 when it is expected that the crop of over 10,000 macadamia seedlings will have reached maturity and thus be able to meet the demands of the chocolate and oil industries in South Africa.
Since the beginning of the project two years ago, according to the company’s representative in Mozambique, António Vieira, US$1 million have been invested, mainly in financing the planting of macadamia, as well as purchasing equipment, preparing the ground, and other related expenses.
Cabora Capenta, of which Valey of Macs is a part, is a consortium operating in several sectors of activity, namely construction, tourism, crocodile farming and fishing on the Cahora Bassa reservoir.
In the fishing and crocodile projects Cabora Capenta has invested US$5.1 million and US$500,000, respectively. (macauhub)