Mozambique: Grindrod partners Dubai group at Maputo port

4 January 2008

Durban, South Africa, 4 Jan – Navigation and logistics group Grindrod has partnered international group Dubai Ports World (DPW) in a deal that gives the two groups a significant influence on the management of the port of Maputo, Mozambique, according to newspaper Business Report.

Dave Rennie, the executive director of Grindrod Freight Services said Wednesday in Durban that Grindrod was partnering DPW as it had already invested in Maputo port as well as being an Africa-focused global port operator.

At the end of December, South African company Grindrod acquired shares in the company which has the concession on the port of Maputo and is majority-owned by British port operator Mersey Docks, and by Portuguese terminal operator Liscont after acquiring a 12 percent stake in Swedish company Skanska in November.

The DPW group manages the Maputo container terminal and a further 41 terminals all over the world.

The Grindrod and DPW group each have a 48.5 percent stake of Portus Indico and the remaining 3 percent are owned by a Mozambican shareholder.

The port of Maputo is managed by Portus Indico, which ahs a 51 percent stake in the Maputo Port Development Company (MPDC), with the remaining 49 percent held by Mozambican state company Caminhos de Ferro de Moçambique.

Rennie said that the value of the deal was confidential but Thomson Financial reported that Liscont sold its 24.25 percent stake for 15 million euros and Skanska announced it had sold its 12 percent for 105 million Swedish kroner.

Rennie also said that his group had spent or would s[end US$100 million on Maputo port, as unlike the port of Durban the port still has further capacity to explore. (macauhub)