DP World holds the concession to operate the container terminal at Maputo Port and is already a 60% shareholder in Maputo International Port Services (MIPS), the container terminal operating company, with the Mozambique Ports and Railways Company holding the remaining 40%. The terminal has 100,000 TEU (twenty-foot equivalent container unit) capacity.
DP World has now purchased 48.5% of Portus Indico - Sociedade de Servicos Portuarios, SA. Grindrod International Ltd 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 separately also 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 said: "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.
"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."
Mr Sharaf added: "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."
Browse
related articles
DP World further invests in Maputo
- United Arab Emirates: Monday, January 07 - 2008 at 17:00
- PRESS RELEASE
Global port operator DP World has further committed to the growing Mozambique port of Maputo, investing more than $32m in the Maputo Port Development Company (MPDC), joining in a partnership with Grindrod International Ltd and Mozambique Gestores SARL.
Related stories
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Log in to request more information from DP World
Notes and media contacts
Media inquiries:Sarah Lockie
+971 4 8080835
Ben Craddock
+971 (0)50 9532 304
About DP World
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. Its dedicated, experienced and professional team of around 28,000 serves customers in some of the most dynamic economies in the world.
DP World aims to enhance customers' supply chain efficiency by providing quality services to effectively manage container, bulk and other terminal cargo. It also provides logistics, infrastructure development and consultancy services where its experience adds significant value for customers.
The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship operations in Dubai - Port Rashid and Jebel Ali. Jebel Ali has been voted "Best Seaport in the Middle East" for 13 consecutive years. DP World's international achievements were recognised in 2006, when Lloyd's List's awarded it the prestigious Port Operator of the Year Award.
In early 2006, DP World acquired P&O, including P&O Ports. The combined 2006 throughput of the company was around 42 million* TEU (twenty-foot equivalent container units) from the Americas to Asia, with global capacity of more than 48 million TEU. That capacity is set to increase significantly in 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 around 90 million TEU by 2017.
*Gross throughput for all terminals as at 31 December 2006.
Posted by Medilyn Manibo, Assistant News EditorMonday, January 07 - 2008 at 17:00 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds