Steel factory earmarked for Tete

Production at a new steel

factory in Tete is set to start

in January 2020, according to

the western Mozambican region’s

provincial governor, Paulo Auade.

He said the new factory – with

the capacity to produce 500 000

tonnes of steel bars annually

– will be built in the Revobue

Industrial Free Zone, which is

located on the border between

Moatize and Chiuta districts.

A local representative of the

United Kingdom-based Baobab

Resources, Capitol Iron and

Steel, has committed to investing

US$770 million dollars in the

Tete Iron and Steel Project.

Baobab owns the majority share

(87%) while the International

Finance Corporation (IFC) holds

a 13% share.