Chinese banks pledge financial support for Chitima-Moatize-Macuse Railway Corridor and Port Project

In 2017, several Chinese banks including China Eximbank pledged to support the $2.3 billion Chitima-Moatize-Macuse Railway Corridor and Port Project. This project involves the construction of a 639 kilometer railway that will be used to transport coal from mines in Moatize to a floating coal terminal in Macuse. China Export & Credit Insurance Corporation (Sinosure) and Multilateral Investment Guarantee Agency were supposed to provide insurance. However, this project has not yet reached financial close. A project company and special purpose vehicle called Thai Mozambique Logistica, S.A (TML) has been created to oversee the design, financing and implementation of the project. TML is owned by Ital-Thai Development (ITD) of Thailand (60% equity stake), Caminhos de Ferro de Moçambique (20% equity stake) and the Corredor de Desenvolvimento Integrado do Zambeze (20% equity stake). In June 2017, China National Complete Engineering Corporation, a subsidiary of the China Machinery Engineering Corporation, also signed a construction contract to support the implementation of this project.

Additional details

This project is also known as the Moatize-Macuse Corridor Project. The Chinese project title is Moatize-Macuse物流走廊项目.

Number of official sources

5

Number of total sources

17