Construction, which began earlier this year, will be completed in June and the terminal will be operational in July.
Ferrochrome is a corrosion-resistant alloy of chrome and iron, which is used to produce stainless steel.
Some of the world's highest quality chrome and ferroalloys are produced in South Africa and Zimbabwe, making the port of Maputo a suitable export terminal for this growing regional trade.
The port's first ferrochrome terminal was commissioned less than two years ago, but is already operating close to capacity.
In 2006, the terminal handled in excess of 500 000 tons, which was shipped mainly to Europe, Japan and China. The Maputo Port Development Company (MPDC), which operates the port on a 25-year-concession, is hoping to see trade exceed one-million tons yearly in the next few years.
"I believe this extension is a positive sign of tremendous potential and growth for the Maputo Corridor," says Maputo Corridor Logistics Initiative (MCLI) CEO Brenda Horne.
The MCLI aims to improve infrastructure such as the road and rail link between South Africa and Mozambique as part of the Maputo Development Corridor initiative.