Essar Ports, through its wholly-owned subsidiary Vadinar Oil Terminal Ltd, has emerged as the highest bidder for mechanisation and operation of three iron ore berths with a combined capacity of 23 MMTPA (million tonnes per annum) at Visakhapatnam Port on BOT basis for a concession period of 30 years.
Essar Ports Ltd is yet to sign the concession agreement with Vishakhapatnam port authorities for Rs 845 crore iron ore handling project. The port authorities have cited court orders for delay in signing the agreement. Visakhapatnam Port Trust is a major port wherein vessels and ships from foreign countries will enter into the Indian arena for various loading and unloading activities.
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