A private logistical company, Mozambique STT, has signed an agreement with the Chinese consortium PowerChina Hubei Engineering to finance the construction of a deepwater port at Chonguene, in the southern province of Gaza, budgeted at US$324 million.
This is the first instalment of a key component in the Chonguene Development Corridor, which will cost in total more than US$700 million. This project has been authorised by the Ministry of Transport, through a memorandum signed with Mozambique STT, which has pledged to mobilise finance for the project without any guarantees from the state.
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