The executive director of the company Portos e Caminhos-de-Ferro de Moçambique (CFM), Joaquim Zucule, said on Wednesday 14 August that the company had invested around 58.8 billion meticals (930.5 million dollars) over the last four years.
Speaking at the 15th edition of the Confederation of Economic Associations (CTA) Economic Briefing, he said that over the four years CFM had invested 16.5 billion meticals (262.1 million dollars) in the railway lines and 14.1 billion (223.4 million dollars) in rolling stock (locomotives and wagons). ‘In total, 30.6 billion meticals (485.5 million dollars) were spent on the railway sector,’ he emphasised.
‘We also invested around 23 billion meticals (364.8 million dollars) in infrastructure and 3.8 billion meticals (60.2 million dollars) in dredging and equipment, totalling 26.8 billion meticals (425 million dollars) in the port sector,’ explained Joaquim Zucule, adding that the company had invested 1.2 billion meticals (20 million dollars) in training and information technology.
CFM study presented at Economic Briefing
Talking about CFM’s challenges, he pointed to the consolidation of the integrated management systems for rail-port operations, the service level agreements (SLA) between operators, the modernisation of signalling and communications systems, the implementation of direct trains (Running trough) to and from South Africa, Zimbabwe and Eswatini and the alignment and strategic optimisation of the Dry Port in Ressano Garcia.
‘We are also finalising agreements with Zimbabwe for the rehabilitation of infrastructure and the implementation of direct trains, increasing the capacity of the fuel terminal at the Port of Beira, intensifying joint marketing (Port and Railway) with Malawi to increase volumes, and increasing the storage capacity of the Port of Nacala for transit cargo and developing partnerships for local content in natural gas logistics,’ he said.
In July of this year, DE reported that despite the climate adversity faced in 2023, the company recorded profits of around 46.6 million dollars (2.9 billion meticals), a growth of 26 per cent compared to the 35.6 million dollars (2.3 billion meticals) recorded in 2022.
‘The economic and financial performance for the 2023 financial year was positive, despite the bad weather, in particular the passage of Cyclone Freddy, which hit the centre of the country with great intensity, having a negative impact on rail transport and port handling of goods and passengers,’ the entity said in its report and accounts.
