New grain terminal for Beira

CFI Holdings Limited last week said it had accepted an invitation to be one of the founding shareholders in a consortium to build and operate a new grain handling and storage terminal in Beira, Mozambique.

CFI, which is the only Zimbabwean company, will hold a 10% shareholding for which regulatory approval has been obtained.
Other major shareholders are CFM (Mozambique Harbours Authority), Cornelder, and Nectar and Rainbow International.
The project was initiated and is being led by Seaboard Overseas management company Limited, which is a subsidiary of Seaboard Corporation in the U.S.A, which is one of the largest grain trading companies in the world and has established similar facilities elsewhere.
The new venture company, to be known, as Beira Grain Terminal will be domiciled in Mozambique.
The terminal will be able to handle 400 metric tonnes of grain per hour and will have an initial storage capacity of 30 000 metric tonnes. The necessary equipment is being purchased.
It is envisaged that maize, wheat and rice destined for regional countries including Mozambique, Malawi, Zambia and Zimbabwe will be handled at the facility and will also handle regional exports.
The company hopes to achieve savings on the costs of grain imports for its own group requirements thus saving foreign currency in the process.
Researched has indicated that the cheapest port of entry for sub-Saharan imports is through Beira.

Post published in: Economy

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