Chinese company to build 5-star hotel in Costa do Sol, Mozambique

15 December 2010

Maputo, Mozambique, 15 Dec – Chinese company Tong Jian Investment Co.Ltd. is to build a five star hotel and a retail area to sell construction materials in the Costa do Sol neighbourhood in Maputo, Mozambique, under the terms of an agreement signed Tuesday in Maputo.

The document was signed by the Mayor of Maputo, David Simango, and the representative of the Chinese company, Cao Hungru, and it was agreed that the city’s municipal council would provide the project with subsidies, specifically conceding land for it to be built.

According to Cao Hungru, the Chinese company proposes to invest US$230 million, and the hotel will cost US$150 million, with the remaining cash applied to construction of the retail space. (macauhub)