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i-maritime News Service

Port Trust signs pact with Vizag Agriport - 2012-05-21

The Visakhapatnam Port Trust signed the concession agreement on Friday with the Vizag Agriport Pvt Ltd, a special purpose vehicle formed by the ABG-LDA Bulk Handling Pvt Ltd, Mumbai, and IL&FS Maritime Infrastructure Company Consortium. The agreement is for the installation of mechanised handling facilities at East Quay-7 in the inner harbour of Visakhapatnam port on design, build, finance, operate and transfer basis at a cost of Rs 217.58 crore for a period of 30 years.

The Chairman of Visakhapatnam port, Mr Ajeya Kallam, and senior officials from the port and companies, participated in the function. It is estimated that the project will add 5.21 MTPA to the port traffic.

Source : Hindu Business Line