The Government of Mozambique delivered exciting news at the end of January. The concession to operate the Port of Maputo by MPDC, in which Grindrod holds a 24.7% share, was officially extended to 2058. This is a significant milestone that reflects the government's confidence in MPDC and underscores the crucial importance of the partnerships built over the years.
The agreement includes investments of nearly $1.1 billion by 2033, when the original concession was due to end. The additional investment accompanying the concession extension, to be contributed by MPDC and its shareholders, will play a pivotal role in enhancing and upgrading the infrastructure and services. This strategic investment aims to bolster operational efficiency, elevate safety standards, and ultimately fortify its commitment to delivering services that consistently meet the expectations of customers.
MPDC shareholders are DP World, Grindrod, Moçambique Gestores, and Mozambique's state-owned railway operator, CFM.