Mundra Port and Special Economic Zone has bagged the proposal for the growth of coal handling workstation at the harbor of Mormugao, Goa on a build, finance, design, operate and transfer basis. The letter of award to the conglomerate driven by Mundra Port has been bagged.
The agreement comprises growth and running a berth at the harbor to manage around 6.5mt of cargo and would manage 5mt in the initial year itself and have proceeds share of 20% with the harbor trust. The quantity of cargo would amplify with mechanization. It would have a dispensation time of 30 years in line with a Concession Agreement to be carried out between Mormugao Port Trust and Mundra Port led consortium.
Company plans to turn MPSEZ a pan-Indian Port SEZ firm. The company incessantly reviews and takes part in such prospects and Mormugao port is a core location for managing coal not just for industries in and near Goa, but also to provide for the Bellary - Hospet district of Karnataka and southern Maharashtra.
At present, Mundra Port is growing a Rs.2000crore, 50mt capacity, coal managing workstation at Mundra and also multi-use cargo workstation with two berths at Dahej in a coalition with Petronet LNG.
The workstation at Mormugao is planned to begin operations in fiscal 2012 and is supposed to be financed by inner accruals and arrears and is expected to be cash accretive from the early year of operations.