Mozambique: Cifel factory, acquired by ArcelorMittal, in operation again

31 March 2008

Maputo, Mozambique, 31 March – Cifel, a factory in the city of Maputo which had not operated for 10 years, is now manufacturing in test mode, and its official re-opening is scheduled for April, Mozambican newspaper Notícias reported.

The factory, which produces different types of steel and iron for the construction industry, was acquired last year by ArcelorMittal, which is investing some US$11 million in it, a figure that does not include its purchase price.

According to José Marques, the factory’s director, it will manufacture around 35,000 tons of steel and iron rods per year.

“We are focused and believe that we will get a return on the investments made,” Marques said, adding that the group also had other industrial projects in Mozambique.

The factory’s production will potentially be sold on the local market, although part of it will be set aside for export, particularly to South Africa. (macauhub)