DP World’s $2 Billion Mozambique Port Expansion Gets Approval
- DP World, Grindrod group win 25-year extension for Maputo port
- Shipping-container capacity to almost quadruple by 2058
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Mozambique approved an extended deal for DP World Ltd., Grindrod Ltd. and other operators of its biggest port, including a $2 billion expansion that will further draw cargoes away from neighboring South Africa’s creaking trade infrastructure.
The group, which also includes Mozambique’s state-owned railway operator, won a 25-year extension to run the port in Maputo, the capital, ending in 2058. The Council of Ministers approved the deal on Tuesday, according to a statement. The agreement includes investments of nearly $1.1 billion by 2033 when the original concession was due to end.