Apr 25, 2008
Global port operator invests in port of MaputoBack
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Global port operator DP World has committed to the growing Mozambique port of Maputo, by investing more than $32-million in the Maputo Port Development Company (MPDC), and by creating a partnership with marine cargo transport firm Grindrod International and Mozambican company, Mozambique Gestores SARL.
DP World holds the concession to operate the container terminal at the Maputo port and is already a 60% shareholder in Maputo International Port Services, the container terminal operating company, with the Mozambique Ports & Railways Company holding the remaining 40%.
The terminal has 100 000 twenty-foot equivalent units (TEUs) of container capacity.
DP World has now purchased 48,5 % of Portuguese company Portus Indico Sociedade de Servicos Portuarios SA. Grindrod International holds another 48,5%, with Mozambique Gestores SARL holding the remaining 3%.
Portus Indico has a 51% interest in MPDC, which holds the concession for the overall port of Maputo until 2018, with an option to extend to 2028. Portus Indico also separately holds the agreement for the management of MPDC. The government of Mozambique holds the remaining 49% share interest in MPDC.
DP World CEO Mohammed Sharaf says, "We are pleased to have the opportunity to invest in Maputo. The port is the backbone of the economy and we look forward to helping develop the infrastructure there and contribute to the growth of Maputo and Mozambique."
He adds that Maputo is also one of the main corridors for the Southern African hinterland. "We plan to invest further in container handling facilities there, but we also believe there is potential to grow commodity traffic as well, and with our expertise in general cargo, bulk and break-bulk handling, we believe we can contribute significantly to fast tracking the growth in this cargo sector through Maputo."
He concludes, "We are very pleased to be working in partnership with Grindrod and Mozambique Gestores in Portus Indico. They are both experienced and professional operators in this market. Together, we have created a partnership that will support the investment required to build the port of Maputo into a notable force in the logistics chain in Southern Africa."
DP World is one of the largest marine terminal operators in the world. With the addition of DP World Sokhna, DP World has 42 terminals and 13 new developments across 27 countries.
The combined 2006 throughput of the company was about 42-million TEUs from the Americas to Asia, with a global capacity of more than 48-million TEUs. That capacity is set to increase in the coming years with a committed pipeline of expansion and development projects in key growth markets, including India, China and the Middle East. Capacity will rise to about 90-million TEUs by 2017.
Edited by: Laura Tyrer© Reuse this Comment Guidelines (150 word limit)
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