The Mozambican government, on this Tuesday, approved the concession of the railroad linking the province of Tete to Malawi and the Nacala-à-Velha Railroad Branch, in the north of the country, to Sociedade Corredor Logístico Integrado de Nacala (CLIN), owned mainly by Brazil’s Vale.
At its 23rd ordinary session, the Council of Ministers of Mozambique approved the decree that sets the terms for concession of the Moatize-Malawi railroad and the Nacala-à-Velha Railroad Branch, between the districts of Mossuril and Ponta Mamuaxi, as rail grantor to CLIN.
The track route consists of a stretch between the coal basin of Moatize, in Tete, in the Center region of the country, which crosses the Malawi territory and enters again in Mozambique, through the Northern Development Corridor, ending at the Nacala-à-Velha port, in Northern Mozambique.
According to the spokesman of the Council of Ministers, Alberto Nkutumula, both projects are valued at more than 1 billion euros.
They are two projects that will be built from scratch, and the concessionaire is called Corredor Logístico Integrado do Norte, he said.
The assignment of the railroad will last for three years, but improvement works will start before the end of 2012, when opportunities for citizens and national companies to acquire five percent of the shares of the concessionaire CLIN will be open, Alberto Nkutumula said.
The concession terms also stipulate that, in the future and in a progressive manner, the public company Caminhos de Ferros de Moçambique (CFM) will acquire a portion of the share capital, up to 50 percent, he said.
The Mozambican authorities expect that the Tete-Malawi railroad will have a capacity of 40 million tons per year; 30 of which will be, in principle, of coal from Vale, while the rest may be of coal from other companies, or of people and freight, Alberto Nkutumula said.
Although the railroad passes through Malawi, the concessionaire CLIN is 80 percent owned by Vale Mozambique and CFM, which owns 20 percent of the share capital.
The government of Malawi is not a part of the shareholder structure of CLIN, firstly because it is a private initiative in question: It is a public-private partnership, but the initiative is from private companies, it is from Vale, Alberto Nkutumula said.
Secondly, the part of the railroad passing through Malawi is negotiated directly between the investor, Vale, and the Malawian government. Therefore, the Mozambican government only gives authorization when it comes to the portion of its national territory, he added.
The Council of Ministers of Mozambique has also approved a resolution authorizing the name change from Sociedade Vale, SA to Vale Emirates Limited, which will enable the implementation of projects for construction, operation and management of the railroads of Moatize-Malawi, Nacala-à-Velha Railroad Branch and the coal port terminal in Nacala-à-Velha.
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