Maputo, Mozambique, 27 Nov – Principle Energy, a UK-based company specialized in renewable energy, plans to invest US$250 million in Mozambique on sugar cane crop for ethanol production, Mozambican newspaper Notícias reported.
The newspaper cited the Agricultural director of Manica province, Dinis Lissave, saying that the project, which will be implemented along the basins of the Lucite and Buzi rivers, is expected to create over 4,000 jobs.
Lissave said the environmental impact study for the project was underway and that when it was finished it would be sent to the Center for Investment promotion (CPI).
Dinis Lissave added that the choice of location for the project was due to the area having the right conditions in terms of land, a favorable climate and availability of a power transmission line form Cahora Bassa to power the industry.
The Dombe project follows another recent project approved by the CPI for the Massingir District of Gaza province, which has been valued at over US$500 million. (macauhub)