MAPUTO, MOZAMBIQUE — AGCO and AT Capital S.A have signed an agreement to collaborate on the Parque Agro-industrial de Moamba (PAM) Agri-Industry Park in Maputo, Mozambique.
The announcement was made at the sidelines of the 12th U.S.-Africa Business Summit “Advancing a Resilient and Sustainable U.S.-Africa Partnership” in Maputo. The aim of the PAM agricultural project is to build reliable and resilient food production capacity in Mozambique, for domestic demand and export.
Estimated at an investment of $52 million during its first phase, the project will span a site of over 900 hectares in the Mauvane area of Moamba district.
The PAM project is an initiative of AT Capital S.A., a privately-owned company based in Maputo, promoting investment in strategic sectors of Mozambique such as agro-industry. AGCO, a global leader in the design, manufacture and distribution of agricultural machinery and solutions will serve as a technical partner to the project.
The first phase comprises setting up a system for the production of agricultural products; poultry and animal husbandry as well as other services in the value chain such as abattoirs. It also includes the supply of water and electricity and the construction of auxiliary roads.
“The PAM project is a priority for AGCO in Africa, as it falls within the concept of our Agri-Park initiatives, which are aimed at empowering African farmers through the integration of high-tech solutions, agronomy and the community,” said Nuradin Osman, AGCO vice-president and general manager of Africa.
Attended by over 10 African heads of state and governments, the Summit is the flagship conference of The Corporate Council on Africa and brings together more than 1,000 U.S. and African private sector executives, international investors, senior government officials and multilateral stakeholders.
The signing was witnessed by Deputy Assistant Secretary of the U.S. Department of Commerce, Seward L. Jones Jr; senior commercial officer at the U.S. Embassy in Mozambique, Tamarind Murrieta; Overseas Private Investment Corporation (OPIC) MD, Africa, Worku Gachou as well as senior representatives from the U.S. government trade and investment initiative, Prosper Africa.