Essar Ports will invest up to $25 million (about Rs 150 crore) in a joint venture, which plans to develop a coal terminal at the Beira port in Mozambique. The investment will be made for developing the terminal with 10 million tonne (mt) a year capacity and also to provide a corporate guarantee of up to $10 million on behalf of the joint venture. The New Coal Terminal Beira (NCTB) is a joint venture between Essar Ports (70 per cent stake) and the port and rail authority of Mozambique.
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