British Group Wins Contract For Management Of Mozambique Port

Mozambique has awarded a British consortium a management contract for its Maputo port, including a 15-year lease, according to the British High Commission. Officials said a consortium headed by the British Mersey Docks and Harbor Co. - which runs the port of Liverpool - had won the contract, which allows for the private management of the port. The agreement will reportedly lead to $50 million investment in revamping the port, though it wasn't immediately clear how this would be financed.