China’s Tsingshan Holdings, the world’s largest nickel producer and a Fortune Global 500 company, has signed a memorandum of cooperation with the government of Mozambique for the construction of what it calls “the largest green industrial park in Africa.”
The agreement also covers a port terminal and other projects, according to China-Lusophone Brief.
The Mozambique Green Industrial Park, to be located in Mozambique’s central Sofala province, will be an industrial tax-free zone and span some 30,000 hectares, Tsingshan says. It will be powered by clean energy, such as hydropower, solar energy, and wind energy.
[See more: Mozambique’s envoy calls for greater access to the Chinese market]
The development of new energy batteries and solar photovoltaics will be among the activities carried out at the facility.
Sun Jianqiang, the park’s director, said the company would also work with the Mozambican government to jointly develop local mineral resources.
“After the park is completed, it will attract more global industry leaders to settle in, fill the gap in Mozambique’s industrial field, and promote the revitalization of the country’s industrialization,” Tsingshan said in a statement.
