Vedanta signs concession agreement for redevelopment of berths at Mormugao port

Vedanta Limited has signed a concession agreement for the redevelopment of barge berths and berth nos. 8 and 9 at Mormugao port at an estimated cost of Rs 11.45 billion. The company received the letter of award in April 2016. The project will be implemented on a design-build-finance- operate-transfer basis with a concession period of 30 years. The berths are planned to handle all types of cargo including iron ore, coal and general cargo, with an expected capacity of 19.22 million tonnes per annum (mtpa). The redevelopment works are expected to be executed over a period of three to five years.