https://en.sputniknews.africa/20240124/mozambique-greenlights-2-billion-expansion-plan-for-major-port-in-maputo-1064759599.html
Mozambique Greenlights $2 Billion Expansion Plan for Major Port in Maputo
Mozambique Greenlights $2 Billion Expansion Plan for Major Port in Maputo
Sputnik Africa
The port in Maputo has experienced significant growth in recent years, driven by rising demand stemming from Mozambique's expanding economy and exports from... 24.01.2024, Sputnik Africa
2024-01-24T09:36+0100
2024-01-24T09:36+0100
2024-01-24T09:36+0100
sub-saharan africa
mozambique
south africa
economy
port
united arab emirates (uae)
economic growth
agreement
investment
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Mozambique's Council of Ministers has granted approval for an extensive expansion initiative at its largest port, involving Emirates-based DP World Ltd., South Africa-based Grindrod Ltd., as well as the country's state-owned operator Mozambique Ports and Railways (CFM).The expansion plan, with a total value of $2 billion, includes a 25-year extension for the group's operation of the port in Maputo, the capital city, with the concession set to run until 2058.The deal, as outlined in a statement by the Council of Ministers, paves the way for substantial investments, reaching nearly $1.1 billion by 2033, which was the original end date for the concession.Under the extended concession agreement, the port's capacity is slated to increase to 54 million tons annually by 2058, compared to the current 37 million tons. This expansion encompasses the enhancement of the coal terminal in Matola alongside Maputo, raising its throughput to 18 million tons per year from the current 7.5 million tons.Additionally, the annual shipping-container capacity is anticipated to nearly quadruple to a million units over the same period.
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mozambique, south africa, economy, port, united arab emirates (uae), economic growth, agreement, investment
mozambique, south africa, economy, port, united arab emirates (uae), economic growth, agreement, investment
Mozambique Greenlights $2 Billion Expansion Plan for Major Port in Maputo
Muhammad Nooh Osman
Writer/Editor
The port in Maputo has experienced significant growth in recent years, driven by rising demand stemming from Mozambique's expanding economy and exports from neighboring South Africa.
Mozambique's Council of Ministers has granted approval for an extensive expansion initiative at its largest
port, involving Emirates-based DP World Ltd., South Africa-based Grindrod Ltd., as well as the country's state-owned operator Mozambique Ports and Railways (CFM).
The expansion plan, with a total value of $2 billion, includes a 25-year extension for the group's operation of the port in Maputo, the capital city, with the concession set to run until 2058.
The deal, as outlined in a statement by the Council of Ministers, paves the way for substantial
investments, reaching nearly $1.1 billion by 2033, which was the original end date for the concession.
Under the extended concession agreement, the port's capacity is slated to increase to 54 million tons annually by 2058, compared to the current 37 million tons. This expansion encompasses the enhancement of the coal terminal in Matola alongside Maputo, raising its throughput to 18 million tons per year from the current 7.5 million tons.
Additionally, the annual shipping-container capacity is anticipated to nearly quadruple to a million units over the same period.
