November 16, 2018
The Mozambican government has approved an additional investment of US$290 million in the port of Beira by concession holder Cornelder de Moçambique (CdM).
The decree approves the terms of the addendum to the concession agreement signed in 1998 between Cornelder de Moçambique, a partnership between Cornelder Holding BV of the Netherlands and the state-owned Portos e Caminhos-de-Ferro de Moçambique (CFM).
The Mozambican government, in order to allow the concession holder to recover its additional investment, had decided to extend the concession period of 15 years, until 15 July 2038, by a further 15 years.
Under the new investment, CdM intends to strengthen the port’s cargo processing capacity, which involves adding additional berths and parks, terminals, warehouses and other facilities directly related to the operation of the facility.
The investment made by CdM will allow the port of Beira to process 700,000 containers per year, almost doubling current capacity.