A Malawi lake transport deal worth US$20m will bring two vessels and a rebuilt Monkey Bay shipyard, the second Chinese agreement in six weeks.
MALAWI · BUSINESS
Key Facts
—The agreement: Malawi’s government signed a memorandum of understanding with Hongtai Investment Group for two marine vessels and a shipyard upgrade on Lake Malawi.
—The value: The first phase is valued at US$20m. The financing structure was not disclosed.
—What is covered: A cargo vessel, a passenger vessel and the modernisation of the Monkey Bay shipyard.
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