Mozambique to get 19 million dollar biofuels project

Mozambique’s state fuel company has partnered with the private sector to invest 19 million dollars (14 million euros) in biofuel production. According to state media, a minimum of 10,000 hectares will be cultivated at first, with possible expansion to 50,000 hectares later. Recent fuel price hikes and the declining value of the Mozambican currency have forced the government to look for fuel alternatives. There are growing concerns that with biofuels the level and volatility of agricultural world prices, which are now linked to the development of the crude oil price, will increase further. Read more here.


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