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EPL wins bid for Visakhapatnam Port Project

Saturday, 01 Jun 2013

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Essar Ports (EPL) has won the bid for the development of three iron ore berths at Visakhapatnam Port in Andhra Pradesh.

Essar Ports, through its wholly owned subsidiary, Vadinar Oil Terminal, has emerged as the highest bidder by quoting 31.01 per cent revenue share for mechanisation and operation of three iron ore berths (two outer harbour berths and one inner harbour berth) at Visakhapatnam port on B0T basis for a concession period of 30 years.

These three berths have a combined capacity of 23 million tpa and will be implemented in two phases. EPL will handle 17 million tpa of third party cargo of Phase-I, and six million tpa of Essar steel cargo of Phase-II of the project.

The total estimated cost of Visakhapatnam port is around Rs 845 crore. Outer berths in the port will commence operation within the next 3-4 months.

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