MAPUTO, Nov 23 (Reuters) – Mozambique’s National Hydrocarbons Company (ENH) said on Wednesday it had approved its investment plan for the Coral South offshore gas project being led by Italian energy company Eni.

Eni’s board backed its investment plan last week.

Once all partners do the same, the participants can take a final investment decision (FID) and arrange financing for the liquefied natural gas project (LNG), part of a larger scheme that will require an estimated $50 billion to develop.

(Reporting by Manuel Mucari; writing by Ed Stoddard; editing by Jason Neely)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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