Sterlite Ports, a wholly owned subsidiary of Vedanta, will be signing a MoU pursuant to ‘Letter of Award’ for redevelopment of existing berths 8, 9 and barge berths at the Port of Mormugao, Goa on Develop, Build, Finance, Operate and Transfer (DBFOT) basis for a concession period of 30 years with the Mormugoa Port Trust. The Project is awarded to the Company through a competitive bidding process.
The redeveloped berths are planned to handle all type of cargo including iron ore, coal and general cargo with an expected capacity of 19.22 million tonnes per annum. Redevelopment of the berths would be done over a period of 3 to 5 years. This project would provide logistic integration to the company's iron ore business, apart from handling other cargo.
Vedanta (Formerly known as Sesa Sterlite) is a global diversified natural resources company, with operations across zinc-lead-silver, oil & gas, iron ore, copper, aluminium and commercial power.
