The multinational logistics company DP World, from the United Arab Emirates, which is part of the consortium that operates the Port of Maputo, has launched a 165 million dollar expansion project to increase the capacity of its yard from 255,000 to 530,000 containers a year.

"In order to handle larger volumes of containers and a diversified range of goods, new equipment will be introduced, including three ship-to-shore cranes and an expanded fleet of gantry cranes on tires, complementing the existing fleet of mobile port cranes," reads the statement quoted by the AIM.

DP World has been operating in Mozambique for over 20 years. With headquarters in the United Arab Emirates and operations in more than 70 countries around the world, DP World is one of the largest logistics companies in the world.

Last year, the government approved another 25-year concession for the Port of Maputo to the consortium of operators led by DP World and the South African company Grindrod Ltd. The consortium, the Maputo Port Development Company (MPDC), also includes the state-owned Ports and Railways Company (CFM).

In a statement, DP World said that the total length of the quay will be extended to 650 meters and the quay will be deepened to 16 meters.