West China Cement (WCC) is to invest USD 800 million in Mozambique, in cement and glass factories, as well as thermal power, under a new deal with the local Government.
WCC, currently the majority shareholder of the Dugongo Cement Factory in Maputo, intends to bring more investments to the country, and has had support from the Mozambican people and government, according to the CEO of the Chinese company, Zhang Jimin.
“Due to this support we have, we are confident to continue the implementation of the development projects in Mozambique, as the government shows its concern to improve the investment conditions and environment,” said Zhang, quoted by Xinhua.
The government of Mozambique, through minister of Industry and Commerce Carlos Mesquita, signed with WCC a memorandum of understanding (MoU) regarding four industrial investment and development projects valued at USD 800 million.
Projects in plan include a cement factory, a thermal energy generation plant and two glass factories. Several areas in provinces of Nampula, Tete and Maputo have already been visited for project site selection, the Mozambican minister said.
At the signing ceremony, Mesquita added WCC intends to continue its investments in Mozambique, “attentive to the good business environment and to one of the government’s five-year goals, which is to generate more jobs”.