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US $40 million loan to expand Mozal smelter

    JOHANNESBURG

    The Development Bank of Southern Africa said it had agreed to extend a US $40 million loan to expand the Mozal aluminium smelter in Mozambique, Channel Africa reported on Monday. The bank said it granted the loan to support economic development in the 14-nation Southern African Development Community (SADC). The bank said the completion of the second stage of the smelter would double its output to 506,000 mts of aluminium per year, and would cost US $1 billion. Mozal, situated outside the Mozambican capital of Maputo, accounts for about two percent of world aluminium output.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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