Seventeen new investment projects worth a total of US$35.5 million were approved in the first half of the year for the Nacala, in Mozambique’s Nampula province, Mozambican free distribution newspaper A Verdade reported.
Of that total, 12 projects were approved by the Mozambican Centre for Investment Promotion (CPI) and the remaining five by the Office for Economic Areas with Accelerated Development (Gazeda), the newspaper said.
Of the projects approved by the CPI the most notable is that of Power Crush Mining worth around US$7.5 million, followed by the OLAM – Cotton Ribaué project.
In terms of projects approved by Gazeda, the most notable is from tourism sector company Emocasa, which is worth US$5 million, followed by those of two other companies, Emotécnica and Profad Projecto de Moçambique, worth US$3.9 million.
As well as these new projects there are other already operating in the province, such as banana production projects Matanuska and Jacarandá, and the Lúrio Green Resources project that focuses on planting eucalyptus in the Eratí district, as well as Damodar Ferro, which mines iron ore in the Lalaua district. (macauhub)