DP World buys stake in Mozambique firm
07/01/2008
DP World (DPW) in Dubai is on vie to tap the cargo traffic in Southern Africa. DI stated on Monday that Mozambique Company, who manages the port of Maputo, the country's capital is on a stake to spent $32million.
The world's 4th largest container-port handler, DP World has bought 48.5% of Portus Indico-Sociedade de Servicos Portuarios.
Portus Indico owns 51 percent of Maputo Port Development Co, which manages Maputo port.
"Maputo is also one of the main corridors for the southern African hinterland," DP World Chief Executive Officer Mohammed Sharaf said in a statement. "We plan to invest further in container handling facilities there."
DP World already operates in Maputo, managing the container terminal at the port through Maputo International Port Services, of which it owns 60 percent. (Editing by Quentin Webb)
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