A US$84 million loan provided to Mozambique by Japan to be used at the port of Nacala will be used to build a new access road, a container terminal and to buy port equipment, Mozambique’s Finance Minister said.
The loan contract was signed Thursday by Minister Manuel Chang and by the representative of the Japanese International Cooperation Agency (JICA), Ryuichi Nasu, and the loan is intended to fund the first stage of emergency repairs on the port of Nacala development project, according to daily newspaper Notícias.
Minister Manuel Chang said that the loan was in addition to a donation of US$31.5 million, also provided by Japan, earmarked to modernise port handling equipment and professional training.
The development project is intended to increase the port of Nacala’s cargo processing capacity from 1.6 million tons per year to 4.7 million tons in 2017, making the port a benchmark facility in southern Africa. (macauhub)