New Delhi, Aug 4 (PTI) Essar Ports today said it has entered into a concession pact with Mozambique government to develop a new 20 MTPA coal terminal at Beira Port in the Southeast African country.Also Read - Russian President Vladimir Putin to Visit New Delhi on December 6 For 21st India-Russia Annual Summit
“Essar Ports has signed a 30-year concession agreement with the Government of Mozambique to develop a new coal terminal at Beira Port, as part of a public private partnership (PPP) project,” the company said in a statement. Also Read - Bank Holiday Alert: Banks To Remain Shut For 6 Days From Today | Complete List Here
The project will be executed on design, build, own, operate and transfer (DBOOT) basis through an arm — New Coal Terminal Beira, SA (NCTB SA) — a JV of Essar and Portos e Caminhos de Ferro de Mo ambique. Also Read - IRCTC Latest News: Ranchi Rajdhani Route Changed From Tomorrow | Check Stoppage, and Other Details
The project will augment the coal handling capacity of Mozambique by 20 million tonnes per annum (MTPA).
“We would like to congratulate the Government of Mozambique for this initiative. It will not only boost coal exports from Mozambique and strengthen its economy, but also deliver significant direct and indirect benefits,” Essar Ports CEO & Managing Director Rajiv Agarwal said.
This is published unedited from the PTI feed.