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ABB opens office in Mozambique
In a move to take advantage of Mozambique's steady economic growth‚ power and automation technology company ABB is joining the growing list of operations that have set up offices in that country.
Recent oil and gas discoveries in Mozambique have made the country a focus for major oil and gas companies.
Setting up a local base in Mozambique is a logical step for firms looking to offer technical and logistical services to Mozambique's growing energy industry.
ABB is positioning itself to take advantage of the opportunities that will arise from Mozambique's investments in infrastructure expansion and rehabilitation.
Consultants Frost & Sullivan earlier this year said approximately about $34bn would be invested in Mozambique's infrastructure in the next decade.
With Mozambique's economy continuing to grow at more than 7% a year the country was under pressure to further develop its infrastructure to support its growth potential‚ ABB said in a statement yesterday.
"The country has a wealth of natural resources and considerable hydropower capabilities. It is already a net exporter of electricity and is expected to play a pivotal role in power trade in the near future‚" the company said.
ABB said it had set up the office in Maputo "to better meet the electrical engineering needs of the local market." It says a local presence will enable the organisation to engage with its customers in Mozambique.
ABB's Paulo David‚ will head the new operation.
Source: I-Net Bridge
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