Mozambique: Railway company posts profit in 2007

20 March 2008

Maputo, Mozambique, 20 March – Mozambican railway and ports company, Caminhos de Ferro e Portos de Moçambique , posted profit of 247.7 million meticais (around US$10.3 million) in 2007, according to provisional figures announced Thursday in Maputo by company chairman, Rui Fonseca.

Speaking to the Board of Directors, Fonseca said that the cargo processes in the country’s ports rose by 5 percent to 11.09 million tons, but added tat cargo transported on the railways had fallen by 5 percent to 736.3 million tons/kilometre, due to a fall in goods transported between Beira and Zimbabwe.

In his speech, Fonseca said that the company was investing in rolling stock in order to ensure that cargo was delivered to its destination and added that the company would soon take delivery of 40 completely rebuilt locomotives and 670 wagons and carriages were currently being refurbished in the company’s workshops.

“This is what we have to do immediately but we need to invest in the acquisition of more wagons in order to transport ore and other cargo from Mozambique, South Africa, Swaziland, Zimbabwe and Botswana to the port of Maputo,” he said.

The chairman of the company noted the need to deepen the access channel at the port of Beira so that it can receive ships with a larger draught and said that a new terminal will be built at the port in order to process coal received from the Moatize mines, in Tete province.

Management of the main ports as well as the railway systems of Nacala and Beira was granted to consortiums led be foreign private companies and Fonseca said that his company’s capacity to supervise those concessions should be increased via new legislation. (macauhub)