Vizag Agriport hopes to secure the Rs 217.58 crore fertiliser terminal mechanisation project from the Visakhapatnam Port Trust (VPT) by March.
VPT signed a 30-year concession agreement with
Vizag Agriport in May last year for mechanisation of East Quay 7 on design, build, finance, operate and transfer basis.
It may be recalled that the Vizag Agriport, a 74:26 joint venture between ABG-LDA Bulk Handling and IL&FS Maritime, completed financial closure for the project.
The joint venture firm is now awaiting the formal award of the contract. From the date of award, the contractor requires 24 months to commission the facilities.
According to him, once commissioned, the terminal will have a capacity to operate up to 6 million tonnes fertiliser cargo annually.
The financial closure for the project was delayed by couple of months for want of environmental approvals. It is learnt that the port authorities would soon handover nearly 30 acre of land for the project to the company.
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