Breaking News! China Machinery Engineering joins Mota-Engil for US$2.4 billion project in Mozambique

Sena railroad

Construction company China Machinery Engineering announced yesterday that it has formed a consortium with Portugal’s Mota-Engil for the construction of the Moatize-Macuse railway line in Mozambique, an undertaking costed at almost US$2.4 billion.

According to financial information agency Bloomberg, the project, which includes a deep water port, is expected to be completed in early 2021 and ratifies the announcement made in March when the the formation of the Portuguese-Chinese consortium was made public.

Mota-Engil posted the highest valuation registered on the Lisbon stock exchange yesterday, with its shares appreciating 3.45 percent to 2,402 euros.

Source: Lusa

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