Work to build the Maputo-Catembe bridge and the Catembe-Ponta do Ouro and Bela Vista-Boane roads, in Mozambique’s Maputo province, is due to begin in the second half of the year, the chief executive of the Maputo Sul Development Company, Nelson Nunes said Tuesday.
Maputo Sul has been waiting for the China Export Import Bank (ExIm) to transfer a loan of US$681.6 million, provided for 20 years with a five-year grace period and an interest rate of 4 percent.
The project, costing US$725 million, was awarded to the China Roads and Bridges Corporation (CRBC), which was also awarded the tender to build the ring road around the Mozambican capital.
The same Chinese bank also provided a subsidised loan of US$72.5 million for this project approved during a visit to China by the Mozambican Finance minister, Manuel Chang, and the remaining funding is covered by the State Budget.
The bridge, which along with the two roads will have a toll the proceeds from which will pay off the loan, will be 60 metres high and around 3 kilometres long and altogether the roads will be 209 kilometres long.
Cited by Mozambican newspaper O País, Nunes said that due to a delay in delivery of the funds the delivery date for the concluded project would be stretched to beyond December 2014.
The Maputo Sul Development Company is a state company set up in 2010 by the Mozambican government to promote the construction and management of the Maputo-Catembe bridge and surrounding roads. (macauhub)