Browsing: IFC

Coal A train on the Nacala Logistics Corridor. Photo: Mitsui
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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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Electricity The CTRG power plant at Ressano Garcia. Photo: Sasol
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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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Electricity Scatec Solar's 40 MW plant at Linde, South Africa.  © Scatec Solar
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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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Finance A branch of Moza Banco in the town of Chicualacuala, opened in May 2017. Photo: Moza Banco
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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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Coal A train on the new rail line from Tete to Nacala. Photo: GPR Leasing Africa
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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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Business Eucalyptus saplings grown by Portucel Moçambique. Photo: Portucel Moçambique
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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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Transport Locomotives on the Nacala line. Photo: CDN
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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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