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Tuesday, 17 May 2011

Mozambique, Botswana, Zimbabwe Agree to $7 Billion Port, Railway Project

May 11, 2011

Mozambique, Zimbabwe and Botswana signed a memorandum of understanding for a $7 billion port and rail project, Paulo Zucula, the Mozambican transport minister, said.

The countries agreed to build a new deepwater port in southern Mozambique and a rail system linking the three southern African countries, Zucula said in a mobile-phone text message from Maputo, Mozambique’s capital.

Funders, who he didn’t identify, back the project that will start next year and take a decade to complete, Zucula said.


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