Mozambique: Coal corridor’s cost rises 66%

Published Dec 19, 2013

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Mozambique

Coal corridor’s cost rises 66%

Mozambique had revised the estimated cost of a railway and port project to boost coal exports to $5 billion (R51.5bn), up 66 percent from its initial projection of $3bn, the Transport Ministry said yesterday. Mozambique picked Bangkok-based Italian-Thai Development to construct the 525km rail line from Tete province to Macuse in Zambezia province and a port able to handle 25 million tons of cargo a year. Construction is planned for 2016. – Reuters

China

Top carrier still in iPhone talks

China Mobile, the world’s largest cellphone carrier, and Apple were still in talks to sell iPhones, the Chinese company said yesterday amid mounting industry speculation that they were about to announce a deal to net Apple hundreds of millions of potential new customers. The Wall Street Journal reported earlier this month that an announcement would be made “around December 18”. – Reuters

Switzerland

Assets of Egypt, Tunisia probed

The Swiss government would keep Egyptian and Tunisian assets frozen for three more years “to provide more time for criminal investigations in Tunisia and Egypt into the origin of these assets”, it said yesterday. The decision applies to Sf700 million (R8.1 billion) held by former Egyptian president Hosni Mubarak and his aides and Sf60m linked to former Tunisian autocrat Zine El Abidine Ben Ali. – Sapa-AP

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