Essar ports to invest US$500 million in Mozambique
Published by Joseph Green,
Editor
LNG Industry,
According to the latest Bloomberg report, the ports arm of the embattled Essar Group has announced that it will invest US$500 million over the next 30 months to expand capacities at its two existing domestic projects and also build a new coal terminal in Mozambique.
The investment will be completed over the next two-and-a-half years and will take its cargo capacity to around 110 million tpy.
It is also negotiating with the Gujarat Maritime Board for a large capacity addition at the Salaya Port, which may entail investments of over Rs 10 000 crore to raise the dry bulk potential and add a few berths for LNG and liquid cargo handling.
The company is looking at multi-location LNG handling capacity and named Hazira as one of the other locations where it could be based.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09012018/essar-ports-to-invest-us500-million-in-mozambique/
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