Mozambique, Zimbabwe, Botswana sign MoU to develop deep-water port

The governments of Mozambique, Zimbabwe and Botswana have initialled a memorandum of understanding (MoU) on the implementation of a tripartite project to develop a deep-water port at Techobanine, in Mozambique’s southernmost district of Matutuine.


The project to develop the port and to build a rail link from Mozambique to land-locked neighbours Botswana and Zimbabwe would cost an estimated US$7.0 billion and would take ten years to complete after work begins, which could be as early as next year.


The memorandum was signed by Mozambican Transport Minister Paulo Zucula and his counterparts from Zimbabwe, Nicholas Goche, and Botswana, Frank Ramsden, Bairdmaritime reports.


Zucula said the private sector had already guaranteed access to the necessary finance, and was just waiting for the formal commitment to be given by the three nations. He pointed out that the feasibility study had been completed and he was certain that work would begin next year.


The minister said that the Techobanine project was coming at a time when there was a regional boom in the extractive industries, with large discoveries being prepared for exploitation.


“The transport and communications sector plays an important and determinant role, since the viability of exploiting these resources depends on our capacity to bring them to market,” he pointed out.


He believed that this project would also reduce the significant deficit in the region’s transport infrastructure, which was one of the main factors in the high cost of consumer products.


Botswana's Minister of Transport and Communications, Frank Ramsden, said an efficient transport system would guarantee conditions for rapid economic growth.
(Source:http://en.portnews.ru)