Mozambique’s Railways seek US$2.3 billion

Mozambican port and railway company Portos e Caminhos de Ferro de Moçambique (CFM) plans to raise US$2.3 billion to finance the integrated development plan of railways and port facilities, the chairman of the company said in Maputo.On the sidelines of the closing ceremony of the 19th Meeting of the Board of Directors of CFM, Chairman Victor Gomes stated that with its own funds the company began repairing the Sena line, which connects the Moatize coal region to the port of Beira, according to daily newspaper Notícias.Studies are underway to prepare the Project for Rehabilitation, Modernisation and Expansion of the Machipanda line, for drafting the project for modernisation and expansion of the Sena line, the Vila Nova da Fronteira branch line and the technical feasibility, economic and environmental studies for the expansion the Oil Terminal at the port of Beira.Gomes stressed that a project to rebuild two bridges along the Ressano Garcia line was at an advanced level of implementation as well as construction of the Moatize to Nacala (via Malawi) railway line and the project to refurbish Nacala airport.For two days the leaders of CFM assessed the productive, economic and financial performance of the company in 2014 and analysed the performance report and the status of the major rail and port projects.