Aluminium products factory Midal Cables, an investment of US$50 million considered by the Bahraini group to be one of the largest in Mozambique since 1999, is due to be officially inaugurated Wednesday by the Mozambican President.
“It is estimated that investment of Midal Cables Ltd is the second largest made in Mozambique since 1999, excluding the oil sector, gas and mining,” said the statement to present the project sent to Macauhub in Maputo, adding that Mozambique was chosen as “the main gateway for its manufacturing business in Africa.”
In the statement, the Managing Director of the company, Hamid Al Zayani said that “the decision is strategic because the African continent is a priority market for our group” and justified the choice of Mozambique with the “investment terms offered.”
The new aluminium products plant in theBelulane Industrial Park, in Matola Rio, a duty free zone about 25 kilometres from Maputo, will occupy an area of 11 hectares, directly employ more than 110 workers, more than 80 percent of which are Mozambicans, “and gives work to more than 1,000 people through contracted services.”
Midal Cables LTD is a multinational industrial group based in Manama, Bahrain, with factories in its own country, Saudi Arabia, Turkey and Australia.
The new factory started production in December 2014 manufacturing aluminium rods, wire and conductors for markets in Africa and Europe, and has an annual production capacity of over 50,000 tons per year, currently exporting its products to South Africa, Namibia, Zimbabwe, Kenya, Tanzania, Nigeria, Spain and Italy, the company said. (macauhub/MZ)