Mozam­bique rail

Weekend Argus (Saturday Edition) - - FRONT PAGE -

THE In­ter­na­tional Fi­nance Cor­po­ra­tion, part of the World Bank, ex­pects to close a $2.7 bil­lion (R37.3bn) debt re­fi­nanc­ing for the Na­cala Cor­ri­dor rail­way project in Mozam­bique early next year.

The re­fi­nanc­ing could help to ease bal­ance sheet pres­sure on Brazil­ian miner Vale which is de­vel­op­ing the rail­way and a coal mine in the re­gion.

The newly built 912km line will also be used to move gen­eral freight and pas­sen­gers.

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