Mozambique Thursday signed a loan agreement with the government of Japan for US$250 million to implement the second phase of the development project of the port of Nacala, in Nampula province, according to Mozambican news agency AIM.
The contract for the loan, announced recently, was signed in Maputo by the Minister of Economy and Finance of Mozambique, Adriano Maleiane and the resident representative of the Japan International Cooperation Agency (JICA) in Mozambique, Katsuyoshi Sudo.
The funding will allow the transfer of the container terminal at the south pier to the north pier, which will have a greater handling capacity with modern equipment and more space for parking.
This investment is the most important part of a series of aid packages provided by JICA to renew and increase the capacity of the port of Nacala.
For the first phase, JICA provided about US$27 million for emergency works in 2012 and about US$66 million in 2013. (macauhub/MZ)