Independent journal on economy and transport policy
06:17 GMT+1
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Vitol acquires 35% of the carboniferous terminal of the Grindrod in the port of Maputo
the two groups will constitute a new trading company
January 19, 2012
The Vitol group, through the branches Vitol Anker International BV and Vitol Mauritius Limitada, has signed an agreement with the South African group Grindrod in order to acquire from this last one, through its branch Grindrod Mauritius Limitada (GMU), 35% of the capital stock of the Terminal de Carvao de Matola (TCM), the society that stops the concession in order to operate until the 2033 (with option for ulterior 10 years) terminal for the coal traffic of the port of Maputo.
The transaction, that it must obtain the approval of the government of the Mozambique, has a value of 67,7 million dollars.
The terminal has an ability to six traffic million tons of coal and magnetite, but the increase of the question has induced Grindrod to plan the ulterior widening of the system that will be able to succeed in to per year enliven 20 million tons with an ulterior investment of about 800 million dollars.
Moreover Vitol and Grindrod have agreed the creation of a partnership, participated respective to 65% and 35%, in which making to meet the respective activities of trading in the field of the coal in the sub-Saharan area. Grindrod will obtain own participation in the new trading company for a symbolic figure.
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The Vitol group, through the branches Vitol Anker International BV and Vitol Mauritius Limitada, has signed an agreement with the South African group Grindrod in order to acquire from this last one, through its branch Grindrod Mauritius Limitada (GMU), 35% of the capital stock of the Terminal de Carvao de Matola (TCM), the society that stops the concession in order to operate until the 2033 (with option for ulterior 10 years) terminal for the coal traffic of the port of Maputo.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
