US$2.4-bln Mozambique railway to be built by Sino-Portuguese consortium

China National Complete Engineering Corp. and Portuguese construction group Mota-Engil Group will build a US$2.4a-billion railway between Moatize and Macuse in Mozambique, Bloomberg reports.

The financial news agency reports the contract is the most valuable in the Portuguese group’s history and represents the first time a 50:50 consortium has been formed by Portuguese and Chinese companies.

Construction could begin next year “once the client’s negotiations to finance the project are concluded”, according to a statement Mota-Engil filed with the Portuguese Securities Market Commission (CMVM).

The 500-kilometre-long railway is part of a logistics corridor that will connect resource-rich Moatize to the Macuse deepwater port, to be completed in 2021.