New headquarters of the Mozambican Presidency costs US$72 million

7 March 2014

The recently-inaugurated headquarters of the Mozambican Presidency in Maputo cost US$72 million and was funded by a loan from the Export-Import Bank (ExIm) of China, Mozambique’s Finance Minister said.

Minister Manuel Chang also said that the subsidised loan had an interest rate of 1.5 percent and a maturity of 20 years, as well as having a grace period of seven years.

Construction work on the Presidency headquarters was carried out by Chinese company Anhui Foreign Economic Construction Corporation (AFECC).

AFECC, which has built a number of state facilities in Mozambique, such as the international and domestic terminals at Maputo Airport, recently started building a luxury hotel in the Mozambican capital costing around US$250 million.

Chang added that the Mozambican government was preparing a new request for a loan from the Chinese bank for construction of the “Parliamentary Citadel” in Catembe. The Mozambican parliament will be transferred to this new location following the construction work.

ExIm Bank of China also provided loans to build two large projects in Maputo: The Maputo ring road and the Maputo-Catembe bridge, in the total amount of US$1.04 billion. (macauhub)