Active Mixed AidData Chinese Aid

Chinese banks pledge financial support for Chitima-Moatize-Macuse Railway Corridor Project

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Thai Mozambique Logistica, S.A (TML)
Country	Mozambique
Start Date	Jan 01, 2017
End Date	Apr 22, 2026
Duration	3,398 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`57644`

Grant Description

Chinese banks pledge financial support for Chitima-Moatize-Macuse Railway Corridor and Port Project In 2017, several Chinese banks including China Eximbank pledged to support the $2.3 billion Chitima-Moatize-Macuse Railway Corridor Port Project.

This project involves the construction of a 639 kilometer railway that will be used to transport coal from mines in Moatize to a floating coal terminal in Macuse.

China Export & Credit Insurance Corporation (Sinosure) and Multilateral Investment Guarantee Agency were supposed to provide insurance. However, this project has not yet reached financial close.

A project company and special purpose vehicle called Thai Mozambique Logistica, S.A (TML) has been created to oversee the design, financing and implementation of the project.

TML is owned by Ital-Thai Development (ITD) of Thailand (60% equity stake), Caminhos de Ferro de Moçambique (20% equity stake) and the Corredor de Desenvolvimento Integrado do Zambeze (20% equity stake).

In June 2017, China National Complete Engineering Corporation, a subsidiary of the China Machinery Engineering Corporation, also signed a construction contract to support the implementation of this project.

📋 Staff Comments

This project is also known as the Moatize-Macuse Corridor Project. The Chinese project title is Moatize-Macuse物流走廊项目.
The Chinese banks' loan pledge may have included the port financing, but sources generally focus financing (and talk of the record) on just the railway, and thus AidData has assumed it was solely for the railway.

📚 Sources & References

Sino-Portuguese JV signs $2.4bn Mozambique port and railway deal
Luso-Chinese consortium hired to build railway in Mozambique
Giant Sino-Mozambican port project has new local partner
Mozambique: China Helps Fund US$2.7B Railway Coal Project
Mozambique: Chinese Loans Funding U.S.$2.7 Billion Moatize-Macuse Railway
Mozambique: Project Finance 2019
China,Hong Kong,India,Mozambique,Portugal,Thailand : MOZAMBIQUE: Contract signed to set up a rail line & a port in ZAMBEZIA
BUZZ-Portugal's Mota-Engil soars 10 pct on large African deals
莫桑比克铁路工程将于2019年投入建设
Megaprojecto ferroviário em Moçambique tem bandeira portuguesa
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
More on signing of contract Moatize-Macuse railway – AIM
Construction of the port of Macuse in Mozambique starts in 2021
Chinese-funded Moatize-Macuse Logistics Corridor scheduled to launch in 2019
TML
Roadshow-mocambique-Corredor-ferro-portuario-Chitima-moatize-macuse
莫桑比克铁路工程将于2019年投入建设 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.