Brazilian companies invest over US$5 billion in Mozambique

26 January 2012

Maputo, Mozambique, 26 Jan – Investments by Brazilian companies in Mozambique have so far totalled over US$5.2 billion, most of which from mining company Vale, the outgoing Brazilian ambassador to Mozambique, António de Sousa e Silva said in Maputo Monday.

After an official farewell to the Mozambican President, the Brazilian diplomat said that Vale, which has one of the biggest coal mines in the world in the central Mozambican province of Tete, dominated investments by his country, with a total of around US$4.9 billion.

The Brazilian ambassador also said that the long-awaited anti-retroviral medication factory funded by the Brazilian federal government in Mozambique was expected to start operating in July or August of this year.

“Construction work is expected to finish in February and as of February or March equipment will begin to be installed, and the factory is due to start operating in July or August,” said Sousa e Silva. (macauhub)