Coal investment in Mozambique is creating an 'economic boom'

21 April 2011

The Economic Intelligence Unit (EIU) has claimed that investment in Mozambique's coal industry is leading to an economic boom in the nation.

Maccuhub has reported that funding for the emerging industry in Tete province has also led to other investments in the region, particularly in transport and infrastructure.

According to the news provider, transport upgrades in the country, including improvements to air and rail transport links are increasing its trading ability.

Alongside this, the Ministry for Public Works and Housing announced construction of a new bridge on the Zambezi river in the city of Tete at a cost of $95 million (£57 million).

"Investment in transport and other infrastructure in Tete is simultaneously the cause and effect of an economic boom in the region, which is the result of millions of dollars of investment in Mozambique's emerging coal mining industry," the EIU confirmed.

Meanwhile, the Economic Times recently reported that Indian investment in Mozambique is forecast to rise to $1 billion by 2013.

Categories: Transport, Energy

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