The city being built near the natural gas projects in Cabo Delgado in the north of Mozambique will cost at least €1.5 billion and have 150,000 inhabitants, the entity in charge of the project said yesterday.

Exploration and development firm Savannah Resources has conditionally secured third mining concession (9228C) for the Mutamba project in Mozambique.

The World Bank will finance the construction of a 27-kilometre railway line between Matola Gare and Albazine railway stations in the metropolitan area of Maputo, southern Mozambique, the president of Metrobus said.

The Islamic Development Bank (IDB) on Sunday approved a soft loan of 99.7 million dollars to finance the high voltage 400 kv electricity transmission line from Temane, in the southern Mozambican province of Inhambane, to Maputo.

Chinese investors will spend US$700 million to build a cement plant with a nominal capacity of 500,000 tonnes in Mozambique, with work expected to start in 2021, daily newspaper Correio da Manhã reported.

THE European Union (EU) has released nearly US$4 million in emergency aid to assist victims of Cyclone Idai in Zimbabwe, Mozambique and Malawi, with the United Nations (UN) saying the disaster may be the worst ever to strike the southern hemisphere.

Mozambique plans to raise US$700m to finance the construction of a road linking South Africa from the tourist province of Inhambane as part of a strategy to boost tourism and trade between the two countries.