- Over 500 new jobs could be created in KZN as private firm Mnambithi Group is set to upgrade the infrastructure of the Maydon Wharf in the Port of Durban.
- Transnet hired the Sandton-based firm in a 20-year deal for R1.3 billion.
- Mnambithi says it specialises in liquid bulk storage, and Transnet says planned upgrades will speed up the port’s turnaround time.
Sandton-based private company Mnambithi Group has signed a 20-year agreement with the Transnet National Ports Authority to build a liquid bulk facility, and other upgrades, at the Port of Durban’s Maydon Wharf Precinct.
The government is paying the firm around R1.3 billion for the development and more than 500 jobs in KwaZulu-Natal (KZN) could emerge from the deal.
Transnet says that Mnambithi Group will transform the ailing port’s infrastructure, adding direct rail and road loading capabilities, an on-site truck staging area and automated loading systems designed to streamline operations and reduce congestion at the Maydon Wharf area.
This represents the second major private firm signing on to aid the Port of Durban, which handles the majority of South Africa’s port traffic and has been left in near-disarray by Transnet. In March, the company finalised an agreement that sees Philippine private company ICTSI run operations in Durban’s Pier 2 in the port instead of Transnet.
The public ports operator had been struggling for some time with old infrastructure and poor maintenance at its ports, as well as a massive debt backlog of around R22 billion. Long loading and offloading delays at the ports due to these issues cost the economy billions of Rands.
This latest signing on of Mnambithi Group forms part of the government’s strategy to turn the country’s ports around. A family business, run by father and son team Vusi and Sibusiso Mazibuko as Chairman/CEO and Group Executive, respectively, Mnambithi also has its hands in coal mining operations and co-owns South Africa’s first registered oil tanker Bow Cecil with Sasol.
Mnambithi says it specialises in bulk liquid storage and chemical shipping.
Transnet Group Chief Executive Advocate, Michelle Phillips, says that Mnambithi’s project at the port will contribute directly to the KZN economy through the creation of over 50 to 100 direct jobs. A further 400 indirect job opportunities for KZN residents are also expected to emerge from the operation.
eThekwini Municipality Mayor, Mxolisi Kaunda, is said to have commended the new appointment, specifically for its contributions to the local economy.
Phillips says that Transnet is “delighted to welcome Mnambithi Terminals and hopes that this strategic relationship will promote the national, strategic, and economic interests of the country, as mandated by Section 79 of the National Ports Act of 2005.”
The operation by Mnambithi will first see the old infrastructure at Maydon Wharf demolished to make way for new infrastructure, including tanks, road loading gantries, bulk transfer pipelines and other associated facilities.
[Source – SA News]
