Maputo — The Mozambican business class should open its horizons and bank on ideas that allow it to exploit the investment opportunities that appear in Mozambique day after day, urged President Armando Guebuza on Thursday.
Speaking at a dinner offered by businessmen in the northern port city of Nampula, Guebuza argued that ideas are indispensible for any investment, since money alone will not determine success.
"You have to think and reflect in order to exploit business opportunities", he said. "When someone has money, but has no ideas, that's shameful".
Furthermore, Mozambicans should not imagine that their role is forever limited to running small companies. "The business class should not limit its horizons to the small and medium companies, but should participate actively on all fronts", Guebuza declared.
The Nacala area is now experienced a massive inflow of investment, much of it within the framework of the Nacala Special Economic Zone (ZEEN), which covers Nacala port and the adjacent district of Nacala-a-Velha.
Earlier on Thursday Guebuza visited some of the projects under way. After inaugurating the Nacala delegation of the Office for Accelerated Economic Development Zones (GAZEDA), the President visited the site of Nacala International Airport, being built by the Brazilian contractor CN Odebrecht. He then toured the "Royal Plastic" plastics company, the Bakhresa milling company, and S&S, a cooking oil plant.
He ended his tour at the site where the Brazilian mining company Vale is building a new deep water coal terminal in Nacala-a-Velha. Vale is also building a new railway from its open cast mine at Moatize, in Tete province, across southern Malawi to Nacala. The integrated coal logistics project is budgeted at 4.5 billion US dollars.
The Nacala terminal will be able to receive large ships, which will permit the export of 30 million tonnes of coal a year from Nacala-a-Velha. The coal terminal and the new rail line will be run by the Northern Integrated Logistics Corridor (CLIN), a company in which Vale holds 80 per cent of the shares, and Mozambique's port and rail company, CFM, 20 per cent.
The general manager of Vale-Mozambique, Ricardo Saad, told Guebuza that the new railway would not be restricted to coal, but could also be used to transport passengers and miscellaneous cargo.
Providing passenger services would be part of the company's social responsibility, he said.
The route from Moatize to Nacala-a-Velha is 912 kilometres long. Much of it consists of existing Malawian and Mozambican lines - but they will have to be completely rehabilitated in order to carry the massive amounts of coal that Vale plans to exports.
Two completely new stretches of track must be built - from Moatize to Malawi, and from Mossuril, on Mozambique's current northern railway to the Nacala-a-Vleha terminal. Saad said the project already possess an environmental licence granted by the Mozambican authorities.
"The terminal is within what is regarded as one of the best deep water harbours in east Africa, with natural protection guaranteed by the Bay of Nacala, which will allow safe operations", he added.