South African firm, Capital Projects, has announced plans to invest US$780mn to fund the construction of a highway linking Mozambique’s southern province of Inhambane and South Africa as part of a strategic bid to boost tourism and trade between the two countries
The construction of the Mapinhane-Pafuri regional road (N222), which covers the provinces of Inhambane, Gaza, and Maputo, in southern Mozambique, is expected to begin in May 2018 and be completed three years later, a representative of South African company Capital Projects said in Inhambane.
The representative of Capital Projects said the company had US$780 million available to build the 500-kilometre road, which connects Vilanculos district to the border between Mozambique and South Africa.
This funding was obtained through a partnership between Capital Projects and China Harbor Engineering Company Ltd. (CHEC).
The project for the construction of the road was launched a decade ago, and before this period, about $ 500,000 worth of feasibility study was invested.
“I want to announce that we have managed to raise this amount and we will be working with our strategic partner, the Chinese Engineering and Roads Company (CHEC) and construction work should start as early as 2018”, Capital Projects representative, Modise Khoza, is quoted in weekly Sunday paper, Domingo.
China Harbor Engineering Company is involved in a US$1bn investment project to build a new port in Maputo province to serve Mozambique and neighbouring countries including South Africa.
