InfraCo Africa (majority shareholder), and Grindrod have partnered in the East Africa Marine Transport (EAMT) project, which will pioneer a scheduled freight ferry service to facilitate trade across Lake Victoria. InfraCo Africa and Grindrod have commissioned the build of a 96m long purpose-built roll-on/roll-off ferry.

The ferry will transport fully laden trucks, operating a safe, scheduled freight service between Port Bell (serving Kampala, Uganda) and the Port at Mwanza South, Tanzania with an anticipated journey time of circa 24 hours.

In the countries bordering Lake Victoria, the majority of existing freight is transported by road, with journeys around the lake taking 3-4 days. To date, privately operated freight transport across the Lake has been undertaken on an ad hoc basis with smaller vessels sailing only when they are full. This approach has economic and opportunity costs for businesses, particularly those working with time-sensitive cargo.

"Grindrod provides customers with efficient and cost-effective routes to market for their cargoes. This solution achieves that objective and will unlock economic growth in the region through a scheduled marine freight service offering, significantly improving time to get goods to the market. It will also bolster Grindrod's existing presence in East Africa in line with our objective to grow in this region. We are privileged to be an operational partner of InfraCo on this initiative." Xolani Mbambo, Chief Executive Officer, Grindrod Freight Services.

Expected to become operational in 2024, EAMT will create jobs and provide businesses with a faster, safer and more reliable route to regional markets.

For more on this story, read the press release here

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Grindrod Limited published this content on 08 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2021 15:11:03 UTC.