Grindrod Limited announced a strategic investment of 77 million dollars to acquire the remaining 35 per cent of the Matola Coal Terminal (TCM). The transaction, which should be finalised in the next six months, still depends on regulatory approvals and the fulfilment of essential conditions. This step will consolidate total control of operations at the Port of Maputo.
According to Further Africa, Grindrod is already part of a consortium with Caminhos-de-Ferro de Moçambique (CFM) and DP World.
The company owns and operates terminals at the port, and the acquisition of TCM represents a significant step forward in its expansion strategy. This move aims to strengthen Grindrod’s presence in Mozambique’s port sector.
TCM is a private entity based in Maputo, with a dry bulk terminal that exports more than seven million tonnes annually.
Among the products handled are magnetite and coal, which are essential for the regional economy. The terminal operates under a sub-concession from the Maputo Port Development Company, integrating logistics solutions by rail and road.
According to the company, the acquisition of the remaining 35% of TCM is also in line with its long-term vision of optimising its operations in the Maputo corridor, which is crucial for transporting goods from southern Africa to international markets. TCM is considered a ‘strategic asset’ that will allow Grindrod to offer more efficient logistics solutions.
Grindrod’s strategy includes a new agreement with Vitol Coal South Africa, which could last up to nine years, providing for an initial capacity allocation of 2.25 million tonnes per year, replacing the previous agreement.
The new contract reinforces Grindrod’s commitment to maintaining stable cargo flows and increasing its competitiveness.
In addition, Grindrod said that the purchase of TCM is in line with the Port of Maputo’s expansion plans, aimed at improving efficiency and expanding goods handling capacity.
With the increased capacity, the port will stand out as an essential logistics centre for the mining sector in southern Africa. The growing global demand for coal and magnetite, especially in Asia, reinforces the importance of this expansion.
The Port of Maputo, with its strategic location as a gateway to international markets, is crucial to Grindrod’s plans. The company is committed to developing and expanding the terminal, increasing the throughput and importance of the port.