Maputo, Mozambique, 14 Dec – The laying of the first stone for a biofuel factory is due to take place Friday in the Mozambican province of Gaza, in a ceremony attended by the Mozambican President.
The sugar cane based project, known as Procana, which will cover an area of 30,000 hectares, will represent an investment of US$500 million and is expected to produce ethanol, fertilizer, gas and power.
Construction of the first biofuel factory is scheduled to start in the first two weeks of January, 2008, and should take three years.
When the factory is in full operation it is expected to generate turnover of US$40 million per year.
According to Mozambican newspaper, Notícias, this project is seen as a benefit for the Massingir district, as, as well as creating job opportunities, will serve as a hub for attracting other investment projects, contributing to the area’s development.
The project’s investor is the London-based Central African Mining and Exploration Company (CAMEC), which is best known for its mining activities, such as cobalt and copper exploration in the Democratic Republic of Congo. (macauhub)