• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    African Development Bank’s 2023 African Economic Outlook Projects Africa to Become the Second-Fastest Growing Region After Asia
    AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution
    Ambassador Albert Muchanga African Union Commissioner for Trade And Industry – exhorted African Administrations to Marshal Mobile Domestic Finance by ways to carry out AU’s Agenda 2063
    African Nations Exhorted to take on Modern Sustainable City Planning to enable Stave Off Prospective Emergencies
    South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study
    $11.70 million Expended by the Africa Development Bank to Facilitate Access to Fertilizers for African Agricultural Producers
    TRANSCO – CLSG wields Impressive Coordination Meetings for the Development of the Gambia River
    650,000 BPD Dangote Petroleum Refinery and Petrochemicals plant Commissioned by Erstwhile Nigeria’s President Buhari
    …Curtail the usage of Charcoal and save the Environment Immense Liquefied Gas Depot opened in Tanga City of Tanzania
    $3.5 Billion in reimbursements to White Agriculturalist by the African Development Bank as Financial Instruments to “Fast Track and Front Load” to White Agriculturalist land…was taken from them by the Zimbabwe Administration President of AfDB disclosed

    $400 Million Senior Loan Granted by AfDB to Mozambique to uphold the the Building of an Integrated Liquefied National Gas Plant and Liquefaction Facility

    Posted On 03 Dec 2019
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Suagibu –

    Photo Credit: Techzim

    NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- MOZAMBIQUE, African Development Bank Group (AfDB) through its Board of Directors has confirmed a long-term Senior Loan of $400 million to support the building of an integrated Liquefied Natural Gas (LNG) plant; including a liquefaction facility in Mozambique.

    The Mozambique LNG Area 1 Project is ranked as Africa’s single largest Foreign Direct Investment to date, comprises a global team of energy developers and operators led by Total alongside Mitsui, Oil India, ONGC Videsh Limited, Bharat Petroleum, PTT Exploration, and Mozambique’s National Oil and Gas Company ENH.

    The AfDB’s beweds a global syndicate of commercial banks, development finance institutions, and export credit agencies, to jointly provide the necessary senior debt financing for the project. Financial close is anticipated within the first half of 2020.

    Bank Group President – Akinwumi Adesina said: “Through its participation, the African Development Bank again demonstrates its leading role in supporting Africa’s transformation. The catalytic effect brought about by the Bank is strategically aimed to help transform Mozambique from ‘developing’ to ‘developed’ nation.”

    “Working closely with the Government of Mozambique, we can ensure that the local population reaps the benefits from its nascent natural gas value-chain, thus creating growth opportunities and widespread industrialization, while at the same time accelerating regional integration across Southern Africa,” Adesina noted.

    In June 2019, group of investors reached at a final investment decision on the project, which carries a price tag in excess of $20 billion, facilitating the incipient commercialization of one of the world’s most important gas discoveries in the past two decades.

    The LNG liquefaction plant will have a production capacity of 12.88 MTPA. The project is the first of several LNG trains expected to undergo development in the northern part of the country

    Mozambique is expected to become one of the world’s largest LNG exporters and its gas represents an important source of supply diversification, which stands to benefit global energy markets.

    Upon approval, the Bank bears an official command to see to it that; the project faithfully support to international transparency standards and full compliance with environmental and social requirements, in partnership with its Integrated Safeguards System.

    In addendum, AfDB’s participation introduces key social and economic manifestations into the loan monitoring, including areas such as job creation, gender empowerment, and linkages for small businesses. With a portion of the gas allocated to the domestic market, the Bank’s focus is on supporting economic diversification and industrialization in both Mozambique and across SADC.

    The Bank’s involvement is consistent with its country strategy in Mozambique, to use natural resources development to expedite socio-economic agricultural transformation and investment in sustainable infrastructure.

    www.newafricabusinessnews.com
    Africa’s Most Read and Fastest Growing Global Newspaper. Forward to All www.newafricabusinessnews.com  

    For New Africa Business News Abdul Rahman Suagibu Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

     

     

    NEW AFRICA BUSINESS NEWS
    COMING SOON ADVERTISING OPPORTUNITY WITH AFRICA’S FASTEST GROWING GLOBAL ONLINE NEWSPAPER. THANK TO COMPANIES THAT WANT TO ADVERTISE.   INFO@NEWAFRICABUSINESSNEWS.COM.

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Rwanda Youth in Agri-Business Forum makes Excellent in roads to Nourish Youth Startups

    Next Story

    Ghana, PURC Meet Stakeholders on New Tariffs Hike

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    African Development Bank’s 2023 African Economic Outlook Projects Africa to Become the Second-Fastest Growing Region After Asia

    Posted On 01 Jun 2023

    AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution

    Posted On 31 May 2023

    Ambassador Albert Muchanga African Union Commissioner for Trade And Industry – exhorted African Administrations to Marshal Mobile Domestic Finance by ways to carry out AU’s Agenda 2063

    Posted On 30 May 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    African Development Bank’s 2023 African Economic Outlook Projects Africa to Become the Second-Fastest Growing Region After Asia

    AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution

    Ambassador Albert Muchanga African Union Commissioner for Trade And Industry – exhorted African Administrations to Marshal Mobile Domestic Finance by ways to carry out AU’s Agenda 2063

    Recent Posts

    • African Development Bank’s 2023 African Economic Outlook Projects Africa to Become the Second-Fastest Growing Region After Asia
    • AfDB President Dr. Akinwunmi Adesina has underscored the significance of Africa Restraining its Reserves and Manufacturing Lithium Batteries for Electric Vehicles to be part of the Global Electric Vehicle Revolution
    • Ambassador Albert Muchanga African Union Commissioner for Trade And Industry – exhorted African Administrations to Marshal Mobile Domestic Finance by ways to carry out AU’s Agenda 2063
    • African Nations Exhorted to take on Modern Sustainable City Planning to enable Stave Off Prospective Emergencies
    • South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.