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/