Mining conglomerate Vedanta has signed the concession agreement for a Rs 1,145 crore redevelopment project of the Mormugao port in Goa.
The company received the Letter of Award for the project on 15 April, 2016, on a design, build, finance, operate and transfer (DBFOT) basis.
The project will be handled by Goa Sea Port, which presently owns and operates a 14 million tpa capacity fully mechanised coal terminal in Visakhapatnam Port of Andhra Pradesh.
The project, which includes redevelopment of berths 8, 9 and barge berths, has been awarded for the 19 million tpa capacity multi-cargo port terminal in Mormugao Port.
The total estimated project cost is Rs 1,145 crore and construction is expected to be completed in five years.