The Visakhapatnam Port has signed a concession agreement with a special purpose vehicle (SPV) to develop the East Quay-1A berth at its inner harbour.
The SPV – SEW Vizag Coal Terminal Private Limited – is jointly promoted by Hyderabad-based SEW infrastructure and Malaysia-based PRSB. Based on the agreement, the EQ-1A berth will be developed by the private investors on a design, build, finance, operate and transfer (DBFOT) basis.
The cost of the project will be about Rs 313 crore, with the berth lease period being 30 years. The new berth will have fully-mechanised handling facilities. It will have an annual handling capacity of 7.36 million tonne of thermal coal and steam coal, the port said in a press release. With this new agreement, the port has so far awarded five projects under public-private-partnership (PPP).
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