Ports and logistics group Grindrod has announced plans to acquire the remaining 35% stake in Terminal de Carvão da Matola (TCM) at Maputo Port from Vitol Mauritius for $77 million.
Grindrod, listed on the Johannesburg Stock Exchange (JSE), currently holds a 65% interest in the Mozambican terminal.
TCM operates the Matola dry bulk terminal, which has an annual capacity to export over seven million tons of bulk materials, primarily magnetite and coal.
The terminal functions under a sub-concession to the Maputo Port Development Company and features dedicated export facilities, capable of receiving cargo via rail and road.
Grindrod views TCM’s long-term sub-concession as a key strategic asset that enhances its ability to provide cost-effective and integrated logistics solutions for its customers.
The company believes this acquisition will drive value creation along the Maputo corridor and strengthen its pit-to-port logistics services.
