Grindrod has appointed Standard Chartered Bank as the sole financial advisor on the expansion project of the Maputo Coal Terminal (TCM) in Mozambique, estimated at US$800-million. The expansion project will increase the capacity of the port’s coal terminal from an existing output level of 6-million tonnes (mt) per annum to 20-mt over a period of six-years.
Standard Chartered’s advisory capacity and structuring expertise will enable Grindrod to seek debt funding from the open market. Debt funding is likely to comprise of a mixture of development finance institutions and commercial banks - with possible support from export credit agencies and political risk insurance providers.
