Mozambique: DP World acquires 60 pct of Maputo International Port Services

11 January 2008

Dubai, United Arab Emirates, 11 Jan – The sea terminal operation company DP World said Monday in Dubai it had acquired 60 percent of container terminal operator Maputo International Port Services (MIPS) for US$32 million.

The remaining 40 percent of MIPS is owned by Mozambican state rail and port company Caminhos de Ferro de Moçambique.

With this acquisition, DP World now has 48.5 percent of shares in Portus Indico – Sociedade de Serviços Portuários – which in its turn has a 51 percent stake in MPDC, a company which has the concession for exploration of Maputo Port until 2018, with an option to extend until 2028.

Caminhos de Ferro de Moçambique owns the remaining 49 percent of MPDC.

South Africa’s Grindrod International, Ltd, also owns 48.5 percent of Portus Indico, whilst Moçambique Gestores controls the remaining 3 percent.

According to the executive director of DP World, Mahommed Sharaf, “Maputo is one of the main development corridors in southern Africa where we plan to continue investing in container handling facilities.”

Maputo’s Container Terminal has the capacity to handle 100,000 TEU (twenty foot equivalent units).

DP World is a sea terminal operator that recently acquired stakes in the port of Sokhna, in Egypt, giving it a total of 42 terminals and 13 new projects in 27 countries, with a team of 28,000 staff. It also provides logistics, infrastructure development and consulting services. (macauhub)