Mundra Port consortium pockets Mormugao project

Mundra Port and Special Economic Zone Ltd, India’s largest private port and special economic zone, on Monday, announced that a consortium led by it has won the bid for the development of coal handling terminal at the port of Mormugao, Goa on a design, build, finance, operate and transfer basis.

Mr. Rajeeva Ranjan Sinha, the Director, declared that the contract involves development and controlling a berth at Mormugao Port to handle around 6.5 million tonnes of cargo on a yearly basis.

It would handle 5 million tones in the first year and have an income share of 20% with the port trust. The volume of cargo would grow with mechanization. It would have a concession period of 30 years in accordance with a concession agreement to be carried out between the Mundra Port led consortium and Mormugao Port Trust.

Mr Gautam Adani, Chairman, Adani Group told that this is a part of our plan to make MPSEZ a pan-India Port, SEZ Company.

Mormugao Port is a central location for handling coal not only for industries in and around Goa, but also to run the Bellary-Hospet area of Karnataka and southern Maharashtra.

Presently, Mundra Port is growing a Rs 2,000 crore, 50 million tonne capacity, coal treating terminal at Mundra and also a useful cargo terminal with 2 berths at Dahej in a joint venture with Petronet LNG Ltd.

The terminal at Mormugao is planned to begin operations in the financial year 2012 and is proposed to be financed by internal accruals and debt.