Bloomberg
May 11, 2011
Mozambique, Zimbabwe and Botswana signed a memorandum of understanding for a $7 billion port and rail project, Paulo Zucula, the Mozambican transport minister, said.
The countries agreed to build a new deepwater port in southern Mozambique and a rail system linking the three southern African countries, Zucula said in a mobile-phone text message from Maputo, Mozambique’s capital.
Funders, who he didn’t identify, back the project that will start next year and take a decade to complete, Zucula said.
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