Africa-Press – Mozambique. The president of Mozambique, Daniel Chapo, defended on Thursday the sustainable use of the country’s natural resources to develop the economy, as he launched a project to build the national petrochemical city in Vilankulo district, Inhambane province, in the south of the country.
“The sustainable use of our natural resources will allow our economy to develop, combat poverty and accelerate the creation of the foundations for the economic independence that Mozambicans crave and deserve, which is our fundamental objective,” said the head of state.
Today, in the province of Inhambane, southern Mozambique, Chapo launched a private project to build a petrochemical city, expected to cost at $2 billion (€1.7 billion), with the goal of creating around 10,000 jobs.
“We’re talking about a large-scale project, with an installed capacity of more than one million tonnes of petrochemical products per year, which will have a significant impact on increasing exports with a weight of around $1.150 billion in the Gross Domestic Product (GDP),” said the Mozambican President.
The initiative, funded by private capital, includes installing factories within the future city and exploring and processing products such as ammonia, urea, chlorine, fertilisers, and industrial salt, which, said Chapo, will boost the national economy.
The project also includes the construction of a refinery for the country’s petrochemical, logistics, and energy products, thermal power stations, maritime terminals, treatment plants, and other industrial production units, as well as social infrastructure for the city’s future residents.
“The strategy of internal processing of mineral resources such as gas, heavy sands and other products will enable the creation of more jobs for our people, particularly young people suffering from unemployment,” said the President of Mozambique.
According to a statement from the presidency, Daniel Chapo will inaugurate the Bank of Mozambique Sports Complex later today as part of the celebrations for the central bank’s 50th anniversary, which will take place on 17 May.
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