In 1998, IFC invested $120 million in the Mozal Aluminum Smelter in Mozambique, the first major nonresident investment in Mozambique. IFC subsequently raised its investment to $145 million in 2001 to support the project’s expansion.
IFC’s involvement in the project has helped ensure that the project brings tangible benefits to local communities. The Corporation’s involvement in promoting community and social benefits includes an HIV/AIDS awareness program that has helped educate local communities about the disease.
IFC has also provided assistance to empower and train local small and medium businesses to Mozal standards for delivering products and services on time, at cost, and to project specifications. Localized companies received intensive training and mentoring, enabling them to secure $18 million worth of contracts with Mozal. The program was expanded in a second phase in 2007.
IFC’s involvement has also ensured that Mozal complies with the Corporation’s environmental and social policies and guidelines. Working together with IFC, Mozal has implemented measure to combat and manage air emissions, wastewater and storm water management and discharge schemes, waste management including hazardous waste, and the incremental impacts of increased production on air quality and road traffic, including noise and safety.
For more information contact:
Houtan Bassiri
Communications Officer
Johannesburg, South Africa
Tel: +27-11-731-3179
Email: hbassiri@ifc.org
