Harare - Zimbabwe, Botswana and Mozambique have signed access agreements paving the way for the construction of a $7 billion new railway line linking Botswana to a new deep-water port to be built near Maputo in Mozambique.
According to a statement by Australian mining giant, Walkabout Resources the arrangement of finance for the project is expected to be completed by the end of 2011.
The first phase of construction is due to start between 2012 and 2015.
Alan Mulligan, managing director for Walkabout Resources told delegates at the Africa Down Under conference being held in Western Australia that the proposed line is set to benefit companies currently exploring for coal projects on the continent.
Access agreements have already been signed between the three countries over the route of the 1,100km heavy haul railway line, he said.
The mining giant is expected to build a heavy haul connecting line through to the coal rich Hwange region. The main line will run close to a number of projects proposed for coal fields in southern part of the country.
Walkabout said the railway line would start from the eastern Botswana town of Serule and end at a new deep-water port to be built near Maputo at Technobanine point in the district of Matutuine.
A number of private consortiums are looking at funding and building the line
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