Multinational companies interest in expanding investments

Maputo, 20 May (AIM) – Several multinational companies operating in Mozambique have expressed their interest in expanding investments in the country during an exclusive meeting with Mozambican President Daniel Chapo.

The companies in question are the South African petrochemical giant Sasol, the tobacco company Philip Morris International (PMI) and the Varun Beverages Zimbabwe & East Africa.

According to Sasol CEO, Simon Baloi, speaking to reporters on Tuesday after being received in an audience granted by President Chapo, the meeting was crucial to analyze opportunities for economic cooperation between Mozambique and various multinational companies.

Baloi explained that Sasol’s commitment to the economic and social development of Mozambique is visible as the company is developing the second phase of the local development program, called LDA2, budgeted at approximately 43 million US dollars.

He also highlighted the Production Sharing Agreement (PSA Project) as a crucial mechanism focused on deepening investment in the country. The project, budgeted at approximately one billion dollars, is aimed at powering Temane Thermal Power Plant (CTT), in the southern province of Inhambane, to generate 450 megawatts of electricity and produce excess gas for export.

The PSA Project also includes a Liquefied Petroleum Gas (LPG) Facility that will produce 30,000 tonnes of LPG a year, meeting 75 per cent of Mozambique’s cooking gas demand, as well as light oil.
“Another point discussed was the construction of a liquefied natural gas terminal in Mozambique, considered strategic to strengthen regional energy integration and meet the growing energy demand in the Southern Africa region”, he said.

For his part, Vijay Behel, CEO of Varun Beverages Zimbabwe & East Africa, expressed interest in expanding the company’s investments in Mozambique, focusing on the dairy, soft drinks, bottled water, and juice sectors linked to the PepsiCo group.

“The meeting allowed for the presentation of a strategic vision oriented towards sustainable growth and strengthening production and distribution capacity in the Mozambican market. We are encouraged and we hope to start this business soon”, the businessman said.

The global director of operations for Philip Morris International addressed opportunities for cooperation and investment in the country, reiterating the multinational’s interest in deepening economic relations with Mozambique.

(AIM)

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