West International Holding to invest $800 million in Mozambique
Maputo, 1 Oct (AIM) – West International Holding (WIH), the Chinese majority shareholder in the “Dugongo” cement company operating in the Mozambican province of Maputo, has promised to invest $800 million to boost industrial development across the country.
The Mozambican Ministry of Industry and Trade and the Chinese investor on 30 September in Maputo signed a Memorandum of Understanding (MoU) for implementation of four industrial development projects.
They include another cement plant with an annual production capacity of 5,000 tonnes, a thermal power station with two generators that can produce 50 megawatts of power each, a cement milling plant with installed capacity of 900 tonnes, as well as a glassware production unit with an annual capacity of 600 tonnes.
The Minister of Industry and Trade, Carlos Mesquita, told reporters that the Chinese investors have assessed several areas across the country. The latest WIH mission has just returned from Tete and Nampula provinces.
WIH Chairperson, Zhang Jimin, said the construction and implementation of Dugongo Cement plant, with a daily production of clinker estimated at 5,000 tonnes, was a great success and enjoyed the support of the Mozambican government and people.
He pointed out that Mozambique is a country worth investing in because of the good investment environment, the local market, along with the availability of resources.