JOHANNESBURG - Agricultural firm AGCO said it and AT Capital S.A had signed a memorandum of understanding to collaborate in implementing the Parque Agro-industrial de Moamba (PAM) agri-industry park in Mozambique's capital Maputo.
AGCO, a global leader in the design, manufacture and distribution of agricultural machinery and solutions, said the aim of the project was to build reliable and resilient food production capacity in Mozambique, for domestic demand and export.
Estimated at an investment of about US$52 million during its first phase, the project will span a site of over nine hundred hectares in the Mauvane area of Moamba district.
It is an initiative of AT Capital S.A, a privately owned company based in Maputo which promotes investment in strategic sectors such as the agro-industry.
AGCO will serve as a technical partner in the project, whose first phase comprises setting up a system for the production of agricultural items, poultry and animal husbandry as well as other services in the value chain such as abattoirs. It also includes the supply of water and electricity and the construction of auxiliary roads.