CHENGDU, March 1 (NBD) -- The China Brazil Xinnenghuan International Investment (CBSteel) plans to invest 1.3 billion US dollars to build a plant in Nacala to transform coal into coking coal, to feed Brazilian steel industry.

The plan was indicated in the momentum signed by the permanent secretary of Mozambique’s Ministry of Industry and Commerce, Carla Soto, and the chairman of the board of CBSteel, Zhang Shengsheng.

At the signing ceremony, Zhang said, the project construction is likely to take one year or so, with the potential to create 1500 jobs.

Zhang added, this project will also promote the development of neighboring "major industrial zone", creating more job opportunities for the local people.

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