Mozambique’s state petroleum company, Cabo Delgado Ports, will invest in construction of a new port city to assist development of natural gas discoveries in the country.
The plan is for an industrial area development spanning 18,000 hectares of land located in the northern Cabo Delgado province. According to a statement, it will also be in close proximity to the liquefied natural gas facilities planned by Eni SpA, Empresa Nacional de Hidrocarbonetos EP and Anadarko Petroleum Corp. (APC).
The mixed-use port city development will involve parks, industry, tourist attractions, residences, schools, hospitals and stores and is designed to avoid resettlement of the population.
Construction of the new port city is crucial since the country could become the world’s third largest gas producer in 2018. With reserves estimated at 250 trillion cubic feet, the country has attracted investors such as Eni of Italy and Woodlands, Texas-based Anadarko.
Maputo-based architectural company, Tracus, started the urban development plan for the new port city last month.
Amad Valy, head of operations at ENHLogistics, said it won’t be possible to complete before 2017. They expect to accomplish 25% of the plan in 15 years.
Italian Premier, Matteo Renzi, has indicated that Eni will invest US$50 bn in Mozambique
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