Grindrod has completed its strategic reset and the logistics group is now moving into “disciplined growth execution”, says new CEO Kwazi Mabaso.

Delivering the financial results for the year ended December 31 on Friday, Mabaso said the company was focusing on rolling out strategic infrastructure initiatives in the short to medium term.

“Several projects are already underway and additional opportunities are being actively pursued,” says Mabaso.

The first is an expansion project at the Matola dry-bulk terminal in Maputo, Mozambique, which will lift terminal capacity to 12-million tons a year.

Grindrod, now the 100% owner of Matola, last year pushed the terminal to a new record of 9.9-million tons.

“The project is making good progress. We are on track for the hot commissioning at the beginning of 2027,” noted Mabaso.

Grindrod is also targeting a presence at the Richards Bay port container handling facility, which should give it direct access to the quayside.

This project is expected to be commissioned in 2028.

Grindrod is also aiming to participate in South Africa’s open rail access programme, which will see State-owned rail and port operator Transnet allow private operators to use the national freight network.

“Negotiations are ongoing and we are in the process of procuring 50 wagons this year, specifically for rail slots,” said Mabaso.

The new wagons will enable the transportation of 400 000 t of coal a year from Belfast to Komatipoort to boost Matola terminal volumes.

A project that could potentially shift regional logistic dynamics is the dredging of the Maputo port, where Grindrod is a partner in the Maputo Port Development Company (MPDC), which holds the concession to operate, develop and manage the port until 2058.

“MPDC is planning to commence a dredging campaign, in line with its commitment to grow and develop the Port of Maputo as part of the concession extension to 2058,” noted Mabaso.

“The project, once completed, will allow the handling of ultra-large container vessels and the full handling of Cape-size vessels at the Matola terminal.

“This will increase the quayside capability [at the terminal] to handle 170 000 t vessel sizes. The project should be completed by the end of 2027.”

Grindrod would like to repeat its success at Matola in South Africa, added Mabaso.

“During February this year, Transnet released a request for qualification to identify and prequalify potential private sector partners for the Richards Bay dry-bulk terminal (DBT).

“Transnet seeks to partner with the private sector to modernise and expand the Richard Bay DBT – one of South Africa’s largest DBTs.”

Mabaso said the Richards Bay DBT handled mainly coal, chrome and magnetite, with the terminal currently handling around 17-million tons, with the potential to expand this to 27-million tons.

“Now, for nearly two decades Grindrod has been a long-term partner in the Port of Maputo through our investment in the MPDC and as a terminal operator at Matola.

“Over that period we have transformed a legacy dry-bulk terminal into a modern, high-performing export gateway.

“The results speaks for themselves – Matola has consistently delivered record volumes.

“For the last 11 years, we have gone from moving four-million at Matola, to now moving 10-million tons. This clearly illustrates Grindrod’s capacity to invest and operate reliably on large scale,” noted Mabaso.

“We would like to demonstrate that in South Africa, and, therefore, Grindrod will participate in the request for qualification at the Port of Richards Bay.”

Grindrod on Friday reported a 1% increase in core operations revenue, to R7.47-billion, for the year ended December 31, with core trading profit up 13%, to R2.27-billion, boosted by the exceptional performance at the Matola terminal.