This infrastructure should be of benefit to RIV and Vale.
Reconstruction of Sena railroad in Mozambique finishes on 31 January [ 2011-01-25 ]
Maputo, Mozambique, 25 Jan ? Work to rebuild Mozambique?s Sena railroad is due to end on 31 January, the director general of Indian company Rites, told Mozambican newspaper O Pa?s.
On leaving a meeting with Mozambique?s minister for transport and communications, Paulo Zucula, and the chair of rail and port management company Portos e Caminhos de Ferro de Mo?ambique (CFM), Ros?rio Mualeia, Bhawan Makhija, representing the concession holder, a consortium between Indian companies Rites and Ircon, said that in March the line would have capacity to transport 2 to 3 million tons of cargo per year.
The Sena line will fundamentally be used to transport coal mined by Brazil?s Vale and Australia?s Riversdale Mining in Tete and the start of which is expected in the first half of this year.
In his turn, the director general of Ircon, Mohan Tiwari, explained that the two-year delay in conclusion of the work had been due to financing problems and gave assurances that within 18 months the line would have capacity to transport 3 to 5 million tons of cargo per year, with the consortium aiming to increase that capacity to 12 million tons. (macauhub)
http://www.macauhub.com.mo/en/news.php?ID=10876
RIV Price at posting:
$16.23 Sentiment: Hold Disclosure: Held
