Grindrod will upgrade capacity at its Richards Bay coal and magnetite terminal from 3.2-million tons a year to 4.5-million tons a year, says Grindrod CEO Alan Olivier. The R125 million (USD 10.4 million) project may be completed bu the end of this year. Grindrod has a 49.9% share in the project.
Another project of Grindrod is the Ngqura liquid-bulk-terminal storage project, for which the company will build 230 000 m3 storage facility. Grindrod has a 30.5% shareholding in the R2.9 billion (USD 241.4 million) project. The facility will be used for the storage of all petroleum products, with the exception of crude oil and liquefied natural gas. Should construction start this year, the first phase may be completed by 2018, says Olivier.