Maputo, Mozambique, 21 Dec – Chinese company China Tong Jian Investment, which is headquartered in Shanghai, in 2011 is due to begin construction of a factory to assemble cars in Mozambique, an investment of US$200 million, under the terms of an agreement signed Friday in Maputo.
According to the Mozambican press, the agreement was signed by the director of the Office for Accelerated Development Economic Zones (Gazeda), Danilo Nalá, and by the director of Tong Jian Investment, Hong Cao.
The factory will be isntalled, initially, in the Machava area of Matola district and two years later is expected to move definitively to the Manhiça district of Maputo province.
The factory is initially expected to assemble 10,000 cars per year, and capacity will develop to 50,000 per year, Nalá said.
In his turn, Hong Cao said that the investment would be beneficial for the Mozambican economy as, as well as creating jobs, it would involve technology transfer, “and is not restricted to being an investment with a commercial purpose.” (macauhub)