The African Development Bank has provided Mauritania's National Industrial and Mining Company with a $150 million low-interest loan to improve iron ore transport. With this loan, the company aims to increase its transport capacity by purchasing 36 locomotives and 1,743 wagons.
It also plans to double its iron ore transport capacity by 2030, produce higher value products and build a solar power plant to reduce carbon emissions.
The company contributes significantly to Mauritania's economy, accounting for 9% of the country's GDP and 14% of public revenues. This investment will increase production and reduce environmental risks.
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