[2019-12-30] Road fund owns entire share capital of Mozambique’s road network company Revimo

Source: Macauhub

Rede Viária de Moçambique (Revimo), a limited company founded in September 2018, has as its only shareholder the country’s Road Fund, an institution run by the Ministry for Public Works, Housing and Hydro Resources, Savana/mediaFAX reported.

The company has a share capital of 670 million meticais and is responsible for construction, maintenance and exploration, under toll systems, of roads and bridges and related facilities, which are already built or have yet to be built in Mozambique.

The Mozambican government, in a cabinet meeting, this month handed over the management concession of the Maputo-Cateme bridge, the Maputo Ring Road and National Road Six, between Beira and Machipanda, along with access roads and other facilities to Revimo.

Savana/mediaFAX also reported that Revimo was expected to sell some of its shares via a Public Offering on the Mozambique Stock Exchange, in an operation similar to eh one carried out for the Cahora Bassa Hydroelectric Facility (HCB), which sold 4.0% of its capital and now has around 25,000 shareholders.

The Maputo – Catembe bridge was inaugurated in 2018 and connects the capital of the country to the municipal district of Catembe and the Maputo ring road, inaugurated in mid-2015, is made up of six interlinked roads, and the aim is to improve the flow of traffic in Maputo.

National Road Number Six (EN6) connects the port city of Beira in the border town of Machipanda, in the provinces of Sofala and Manica, respectively, as well as to the countries in the southern Africa region, such as Zimbabwe.