Good afternoon. President Daniel Chapo has been banging the drum for more investment in Mozambique, specifically in the so-called Nacala corridor, the railway and coal terminal that allows coal from Tete province to be shipped to the port of Nacala in Nampula province (see below). He was addressing his comments to Mitsui, the Japanese conglomerate which is a shareholder in the TotalEnergies-led liquefied natural gas (LNG) project in Cabo Delgado province.
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The president invited ridicule when he talked about how “Mitsui is already investing in the Nacala Logistics Corridor”. Mitsui sold its share in Nacala Logistics, the company that manages the railway and terminal, in 2021, and the venture is now wholly owned by Vulcan Resources, operator of the Moatize coal mine in Tete. But he had a meeting with Mitsui, more likely to discuss the LNG project, and Mozambican leaders feel obliged to go through the ritual of calling for more investment from supposedly eager foreign investors. In fact, Mitsui has decided to step away from investing more in Mozambique for strategic reasons of its own; it is essentially the importance of the LNG project in providing gas for power generation in Japan that keeps it involved there.
