The Richards Bay coal and magnetite terminal is set to be upgraded from its 3.2 million tons a year to 4.5 million tons
a year by freight services and shipping group, Grindrod.
Alan Olivier, Grindroad CEO, said that the project will cost of US$10.93m and will be completed by the end of 2015. Grindrod will have 49.9% shares in the project.
Olivier noted that a second extension of the Richards Bay coal and magnetite terminal will improve its capacity by 8 million tons with future capacity expected to increase to 20 million tons a year.
