Grindrod invests in Maputo and Walvis

TERRY HUTSON DURBAN-BASED Grindrod Limited has acquired a controlling share in both the Matola Coal Terminal in Maputo and the Walvis Bay Coal Terminal. The acquisition resulted from Grindrod’s purchase of a 72% share of Namibian-based African Portland Industries, the owner of the Matola and Walvis Bay terminals, in a deal worth R29.3 million. “The Matola terminal has enormous potential considering the region it serves,” said Lawrence Stuart-Hill, a Grindrod director. “We intend expanding Grindrod’s presence in the port of Maputo where we will be able to service our wide customer base and provide synergies for our shipping lines, particularly in the bulk sector.” Athol Emerton, API’s managing director (and also chief executive of Tall Ships in Durban), said he was pleased to have Grindrod as the new majority shareholder for its various freight interests and specific expertise in the maritime arena. He saw further opportunities being developed between Grindrod and themselves in the future. Last year Ivan Clark, Grindrod’s chief executive, announced that Grindrod intended investing up to R1bn in landside businesses to balance Grindrod’s book of shipping interests.