Mozambique and Portugal return to negotiations in Lisbon on Cahora Bassa Hydroelectric dam

28 March 2012

Officials from Mozambique and Portugal Tuesday in Lisbon began a new round of negotiations to finalise the transfer of the remaining shares still owned by Portugal in the Cahora Bassa Hydroelectric Dam (HCB), Mozambican state newspaper Notícias reported Wednesday.

The newspaper said that, “the clause about the sale of the shares is included in the 2007 agreement, which led on 27 November of the same year to Mozambique owning 85 percent of the facility, after paying US$700 million to Portugal in return.”

“If the talks in Lisbon result in a deal based on the initially outlined conditions, it is expected that Portugal’s Rede Eléctrica Nacional (REN) will keep 7.5 percent and the remaining 7.5 percent will go to Companhia Eléctrica do Zambeze,” Notícias reported.

The newspaper also said that the final deal to transfer the shares still held by Portugal in HCB may be signed in Maputo at the end of this month. (macauhub)