MAPUTO, Oct. 8 (Xinhua) -- Mozambican President Filipe Nyusi said on Tuesday in Maputo that the liquefied natural gas (LNG) project at its full capacity will bring huge gains of some 46 billion U.S. dollars for the state and various benefits for Mozambicans.
Nyusi spoke during the Initial Investment Decision Making ceremony of the Area 4 LNG project in Rovuma basin, where the concessionaires led by Exxon Mobil announced to invest 520 million U.S. dollars in the initial construction phase.
The final investment decision was expected to be announced in the first half of 2020, with 20,000 jobs estimated to be created through the mega project.
GDP growth as a result of the investment will improve the government's ability to respond to the problems that affect Mozambican people, said Nyusi, adding that the quality of public services and investment in education, health and social security will also be increased.
He said that the potential contribution from the gas sector will serve as a way of diversifying the national economy, catalyzing the process of agriculture industrialization.
"It will enable rural households to move from subsistence farming to commercial farming, with more and better support infrastructure to facilitate market access and thus improving their life," said Nyusi.
The president also underlined that the petroleum industry is expensive, as it takes many years for its benefits to be visible to investors and the country.
