GPR Leasing Africa (GPR), a joint venture between Grindrod Freight Services and the Pembani Remgro Infrastructure Fund, delivered the first grain hopper wagons to Corredor De Desenvolvimento Do Norte (CDN) in Mozambique in March.
This follows the parties signing a five-year agreement for the lease of 100 grain hopper wagons to CDN in October 2015. CDN operates in the Nacala corridor, which comprises the Port of Nacala in Mozambique and the railway system in Malawi. The lease is supported by CDN’s transport agreement with Bakhresa Malawi, owner of a grain terminal in Nacala, a milling and packing facility in Malawi and part of the Bakhresa Milling Group, which has operations across Eastern and Southern Africa. The wagons are manufactured by Galison Manufacturing in Welkom.
“We are essentially supplying an African solution that will benefit three African countries,” GPR CEO Jacques de Klerk said. GPR Commercial Executive, Willem Goosen, added that the deal was its first innovative CDN prototype grain hopper.
wagon lease in Africa and that the freight wagon lease pipeline was substantial, with many additional deals to follow. Incorporating the latest safety technology, they will be lighter and more environmentally friendly than older wagons. According to CDN director André Soares, leasing means the wagons do not appear on the company’s balance sheet and no capital has had to be spent. Cash flow is improved, allowing CDN to optimise the use of funds and concentrate on core activities.