(2015-06-03) The President of Mozambique inaugurates on Wednesday a ‘Midal Cables’ aluminium factory, an investment of US$50 million, presented by the Bahraini company as one of the biggest in Mozambique since 1999.
“It is estimated that the investment of ‘Midal Cables Ltd’ is the second largest held in Mozambique since 1999, excluding the oil and gas sector and the mining industry,” reads the statement presenting the project, cited by Lusa, where Midal explains that Mozambique was chosen as “the main gateway to its industrial activity in Africa.”
“The decision is strategic because the African continent is a priority market for our Group,” said the director general of the company, Hamid Al Zayani, justifying the choice of Mozambique with the “investment conditions offered” and because this country is “an excellent spot to serve the main African markets.”
The new aluminium factory is at Belulane Industrial Park, in Matola Rio, a free zone that is about 25 kilometres from Maputo. It will occupy an area of 11 hectares of land, and directly employ more than 110 workers, more than 80% of whom are Mozambicans, “and will provide work to more than a thousand people through contracted services.”
Midal Cables Ltd is a multinational industrial group based in Manama, in the Kingdom of Bahrain, with various factories operating in Bahrain, Saudi Arabia, Turkey and Australia.
The new factory started its production activity in December 2014 manufacturing rods, wire and aluminium conductors for markets in Africa and in Europe, and has a production capacity of over 50,000 metric tons per year, already currently exporting to South Africa, Namibia, Zimbabwe, Kenya, Tanzania, Nigeria, Spain and Italy, the company says.
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