ABG-LDA Bulk Handling said it achieved financial closure for the Rs 310 crore mechanized fertiliser berth project at the Visakhapatnam port.
A consortium of four banks headed by the SBH has funded the project which would vastly improve the operational efficiency and reduce pollution at the port, as it would obviate the need for multiple handling. The company aims to execute the project in two years.
The company is also executing a multi-cargo mechanized berth project at the port and hopes to commission it by the end of December. The berth, estimated to cost Rs 155 crore, is for handling steel, granite and other bulk cargoes. It will have a capacity of roughly 5 million tonne per annum.
The firm is also operating two cranes with a total capacity of 6 million tonne per annum in the Visakhapatnam port and after the completion of the two major projects on hand in Vizag port, our capacity in the port will rise to 15-16 million tonne.
Meanwhile, it is learnt that IL&FS Maritime entered into an agreement with the Andhra Pradesh government to set up a 2.5 million tonne per annum Liquefied Natural Gas (LNG) terminal and the project is still in the preliminary stages.
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