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Wednesday, January 11, 2012

Malawi, Brazil's Vale ink $1 bln rail line deal

Wed Jan 11, 2012

JOHANNESBURG Jan 11 (Reuters) - Malawi said on Wednesday it has signed a $1 billion deal with Brazil's Vale for the construction and rehabilitation of a rail line that will transport 18 million tonnes of coal from Mozambique.

"Vale will invest about $1 billion in Malawi over a period of three years for construction and rehabilitation of the railway line and it is expected to employ 4,500 workers of which 70 percent will be Malawians," Minister of Transport Sidick Mia told Reuters.

(sourced Reuters)

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