A few days ago, Hidroeléctrica de Cahora Bassa and the company Eletricidade de Moçambique signed a contract to provide three million dollars for the Mphanda Nkuwa Hydroelectric Project.

According to a note that MZNews had access to, the amount corresponds to EDM's contribution, in compliance with article 7 of Ministerial Diploma no. 18/2019, of February 7 ("Mutual"), and must be reimbursed by the time the project is financially closed.

The project development costs borne by EDM and HCB, the companies mandated by the government to develop and implement the Mphanda Nkuwa Project, should be accounted for as advances to the share capital of the special purpose companies to be set up for the development of the Mphanda Nkuwa Project.

The agreement was initialed by the PCAs of HCB, Tomás Matola, and EDM, Marcelino Alberto.

The ceremony was attended by the Minister of Mineral Resources and Energy, Carlos Zacarias, representing the Mozambican government, and other members of the management bodies of the two companies.