APSEZ completes Rs 400-cr coal import terminal at Vizag port

Adani Ports & Special Economic Zone Ltd, part of Adani Group today said it has completed the Rs 400 crore coal import terminal at Visakhapatnam port, eight months ahead of schedule.

"The company has completed the Rs 400 crore steam coal import terminal at Vizag port, eight months ahead of schedule," Adani Ports & Special Economic Zone (APSEZ) said in a release.

The Adani Vizag Coal Terminal Private Ltd, a subsidiary of APSEZ, had entered into a concession agreement with Visakhapatnam Port Trust to set up a steam coal handling facility project with a capacity of 6.4 million tonnes a year in March 2011 with a completion deadline of August 2014.

"The facilities created at the port can handle steam coal volumes of up to 9 million tonnes. The Visakhapatnam port is strategic for coal imports to feed the local industries and power plants of the states of Andhra Pradesh, Odisha, Chhattisgarh and Maharashtra,"  said Karan Adani, Executive Director, APSEZ.

APSEZ also operates ports in Mundra, Hazira and Dahej, in Gujarat and is setting up coal handling facilities in Mormugao in Goa and at Kandla in Gujarat.

Shares of the company were trading at Rs 158.80 apiece, up 0.67% on the BSE.