(3 Minutes Read)
As a member of a consortium with CFM and DP World, Grindrod already owns and operates terminals at the port, and the acquisition of the remaining interest in TCM marked a “crucial step” in the company’s growth plans, Grindrod said in a recent statement.
Grindrod Limited has unveiled plans to take full control of Terminal de Carvão da Matola Limitada (TCM) at the Port of Maputo by acquiring the remaining 35% stake in the entity.
The company’s US$77-million acquisition of TCM, which handles the export of coal and magnetite at the Matola Bulk Terminal in the port, is expected to be finalized within the next six months, pending regulatory approvals and fulfillment of key conditions.
As a member of a consortium with CFM and DP World, Grindrod already owns and operates terminals at the port, and the acquisition of the remaining interest in TCM marked a “crucial step” in the company’s growth plans, Grindrod said in a recent statement.
TCM is a private entity based in Maputo operating a dry bulk terminal with an annual export capacity exceeding seven million tonnes, specializing in critical commodities like magnetite and coal. The terminal’s sub-concession with the Maputo Port Development Company allows it to handle cargo via rail and road, offering an integrated pit-to-port logistics solution.
Read Also:
https://trendsnafrica.com/portugal-based-mota-engil-enhances-exposure-in-mozambique/
Grindrod said the acquisition aligned with its long-term vision of enhancing its integrated logistics services along the Maputo corridor. Grindrod said its plan to boost the port’s throughput capacity had also been bolstered by a new agreement with Vitol Coal South Africa.
