Essar Ports on Friday 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.
"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.
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.
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.
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