Navitrade Terminal to See $192-million Expansion

The Economic Times reported that shipping and logistics company Grindrod Ltd. (OTCMKTS:GRDLY) plans to form a joint venture with RBT Resources Ltd. in order to expand the Navitrade terminal, located at Richards Bay on the east coast of South Africa.

As quoted in the market news:

Under the plan, Grindrod’s Navitrade terminal, which has a capacity of 3 million tonnes a year, will be upgraded to handle 20 million tonnes as it aims to open up capacity for new entrants.

‘The market focus of the JV is to service broad-based black economic empowerment mining companies, including junior miners, by providing them commodity export capacity … a facet of their businesses that is currently very challenging,’ said Dave Rennie, chief executive of Grindrod’s Freight Services, in an emailed response.

Click here to read the full article from The Economic Times.