Mozambique looking at building $2B railroad, port

Mozambique looking at building $2B railroad, port

Last Updated: Wed, Nov 21, 2012 18:30 hrs

Mozambique's government is considering a $2 billion port and railroad line project to speed the nation's coal exports to the rest of the world.

Rosario Mualeia, chairman of the state-run CFM, said Wednesday that the project would involve moving coal out of the central city of Tete to be able to ship out. He said the project also would include improvements to the nation's ports.

With the improvements, Mualeia estimated the country would be able to transport about 60 million tons of coal a year.

A civil war that broke out in 1975 and lasted for 17 years left Mozambique's infrastructure in ruins. The country is now registering economic growth, though many remain poor.

Mozambique has some of the world's most valuable coal deposits, sparking a recent coal rush.

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