Large projects drive economic development in Mozambique

25 November 2010

Maputo, Mozambique, 25 Nov – The nine large projects approved and in operation in Mozambique have invested US$9.82 billion and have taken on the role of drivers of the Mozambican economy, Mozambican newspaper Notícias reported.

The paper added that, as well as direct jobs, those projects led to the creation of small and medium-sized services companies and are crucial to the establishment of large public and private infrastructure.

During a parliamentary audience, the government cited the case of the Mozal aluminium foundry which, as well as direct investment of US$2.3 billion, created 1,400 direct jobs and a further 800 indirect jobs in small and medium-sized Mozambican companies.

Meanwhile, the company’s exports totalled US$1.45 billion, and Mozal spends US$96 million each year on goods and services and invests US$2 million on community activities every year.

The Minister for Planning and Development, Aiuba Cuereneia, said that the Moma heavy minerals project, in Nampula province, as well as investment of US$500 million, had created 560 direct, produced US$23 million in exports and spends a similar amount each year on buying goods and services.

In relation to Sasol, another large project for natural gas exploration, the government noted that it had invested US$850 million, generated 183 direct jobs and exported some US$160 million per year.

In its turn, Vale Moçambique, which has a coal concession in Tete province, is investing US$1.5 billion and, although the project is still in its implementation phase, has already provided 4,000 jobs and spent US$330 million hiring small and medium-sized companies. (macauhub)