Italian multinational Eni plans to invest three billion dollars in Mozambican companies in the technical and non-specialized goods and services sectors, says the Confederation of Economic Associations of Mozambique - CTA, after a meeting with the oil company.

ENI shared its Local Content and Procurement Plans, highlighting the contributions of the North Coral Project (Carbon Copy), which includes the creation of 1,400 jobs and training, as well as the transfer of know-how to national staff.

The company announced the signing of a Memorandum of Understanding with financial institutions and commercial banks to facilitate access to financing at subsidized rates and an OPEN DAY activity in Pemba and Maputo, where companies will have the opportunity to interact directly with procurement services at the highest level. Procurement is currently focused on evaluating the tender based on the in-country benefit component and local participation.

ENI revealed that the Coral Sul project has so far invested USD 800 million for Mozambican companies.

With regard to the general eligibility requirements for tenders, ENI explained that a due diligence process will be carried out to assess the Legal, Fiscal, Operational and Reputational compliance of competing companies. The areas of verification will include financial, legal, technical, health, safety, environment, technology and social responsibility.

A particularly relevant note for SMEs is the removal of the ISO certification requirement for participation in tenders. ENI said that, in order to ensure that SMEs take advantage of opportunities, it will accept the presentation of a functional Management System, even if it is not ISO-certified, a measure that was widely welcomed by representatives of the private sector.