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Thursday, September 30, 2010

Brazilian Mining Giant Buys Into Northern Railway

Maputo, Sep 27, 2010 (Agencia de Informacao de Mocambique/All Africa Global Media via COMTEX) --

The Brazilian mining giant Vale announced on Tuesday the purchase of 51 per cent of Mozambique's Northern Corridor Development Company (SDCN).

SDCN is the private consortium which is the partner of Mozambique's publicly owned port and rail company (CFM) in the Nacala port and rail systems in the north of the country. The lease on the Nacala systems is held by the Northern Development Corridor (CDN), in which 51 per cent of the shares are owned by SCDN and 49 per cent by CFM.
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