DP World extends port deal with Maputo
Dubai, June 17, 2010
Dubai-based global marine terminal operator DP World has extended its concession for the port of Maputo, Mozambique to 2033 with an option to extend for a further 10 years.
DP World holds the concession to operate the container terminal at the port, with DP World Maputo operating the terminal.
Portos e Caminhos de Ferro de Mocambique (CFM), the Mozambique Ports and Railway Authority,holds a 40 per cent share of the operating company. The concession was originally due to expire in 2018.
'Africa is a key focus of our business strategy for long term growth of DP World as we look to emerging markets to underpin the recovery of global trade,” said Sultan Ahmed Bin Sulayem, chairman of DP World.
“Efficient infrastructure both leads and drives economic sustainability. Mozambique has an exciting future and we are pleased to be part of it.'
Mohammed Sharaf, DP World’s CEO, said: “We are delighted the Government of Mozambique has extended our concession out to 2033. We are committed to investing in growing DP World Maputo capacity over time in line with market demand.”
“We have seen significant efficiency gains since we expanded our interest in the port in early 2008 and we look forward to being able to contribute even further to improving supply chain efficiency and supporting the expansion of Mozambique's economy.'
DP World senior vice president and managing director for Africa, Joost Kruijning said: 'DP World Maputo is an efficient entry port for goods destined for Mozambique and its extensive hinterland as well as for exporters in the region.” – TradeArabia News Service