Browsing: IFC
Sasol and EDM finally tie up Mozambique gas-fired power plant finance
Gas-fired power project financing suggests Mozambique’s electricity utility is now a credible, if fragile, offtaker
The 175 megawatt gas-fired power plant jointly owned by Mozambican electricity utility EDM [...]
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Vale says $2.7bn Mozambique project finance deal will close next month
Brazilian miner Vale has set a date to close its $2.7 billion project finance package for the Nacala Logistics Corridor in Mozambique, after the two biggest participants gave their approval for $2bn worth of lending and credit insurance.
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Mozambique electric co secures $200 million for gas-fired power plant refi
Mozambique’s state utility, EDM, has secured around $200 million from IFC for the refinancing of its 175 MW Central Termoeléctrica de Ressano Garcia (CTRG) power plant in which it holds a 51% stake, the company said in a statement this week. [...]
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Mozambique solar plant signs concessional finance deals ahead of financial close
The Mocuba solar power plant in Mozambique - the first large-scale solar power plant in sub-Saharan Africa outside of South Africa - should reach financial close in the coming weeks after the IFC committed to a scaled-down financing package, reflecting a [...]
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‘A Mozambican solution’: Bank of Mozambique pension fund to buy Moza Banco
The Bank of Mozambique today announced that the central bank’s pension fund has won the competition to buy of Moza Banco, a commercial bank
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Moza Banco bidders wait for decision on 9 June
The new owner of Moza Banco, one of Mozambique’s biggest commercial banks, will be decided by 9 June by an evaluation commission made up of representatives of the Bank of Mozambique and the World Bank Group’s IFC, and the interim CEO of the bank, after the [...]
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Vale says Mozambique stake sale to Mitsui will close this month
Brazilian mining company Vale expects to finally close a deal to sell part of its coal mining and logistics projects in Mozambique to Japan’s Mitsui before the end of this month, even without closing a linked $2.7 billion project finance deal. [...]
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Mozambique ‘instability’ hinders Portuguese-owned plantation progress
Portuguese pulp and paper group The Navigator Company has booked another heavy impairment on its Mozambique eucalyptus project, but continues to invest in the country as well as testing the country’s export logistics routes.
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IFC plans $265m loans for Vale-Mitsui Mozambique project
The International Finance Corporation (IFC), part of the World Bank group, is planning to lend $265 million to Vale and Mitsui’s Nacala Logistics Corridor project in Mozambique - however the companies are still more than $2 billion short of their funding [...]
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