The consortium, in which Mersey Docks has a 36 per cent share will own 51 per cent of Maputo Port Development Company (MPDC).

Under the fifteen-year concession, port volumes are expected to increase from 4 million tonnes to 13mt.

Mozambique minister of transport and communication Dr Tomaz Salomão said: 'The completion of the port concession and the completion of the Ressano Garcia rail concession will put Maptuo on the map for all companies in the region engaged in the international movement of goods. This will create many new exciting opportunities for further investment in the regional economy.' Initial key investment will give priority for the first three years to the rehabilitation and development of the port. This will entail the introduction of modern design tugs, new dock security infrastructure, the purchase of new cranes. Road and rail facilities in the port will be upgraded to include a new port entrance with a direct link to the N4 highway.

Mersey Dock's investment will total $4.5 million, mainly in the form of shareholder loans to the MPDC together with certain additional guarantees.

Consortium chairman Ken Wharton said he looked forward to implementing plans for the regeneration of such an important gateway for the good of the regional economy.