The Visakhapatnam Port has signed a concession agreement with a special purpose vehicle (SPV) to develop the East Quay-1A berth at its inner harbour.
The SPV – SEW Vizag Coal Terminal Private Limited – is jointly promoted by Hyderabad-based SEW infrastructure and Malaysia-based PRSB. Based on the agreement, the EQ-1A berth will be developed by the private investors on a design, build, finance, operate and transfer (DBFOT) basis.
The cost of the project will be about Rs 313 crore, with the berth lease period being 30 years. The new berth will have fully-mechanised handling facilities. It will have an annual handling capacity of 7.36 million tonne of thermal coal and steam coal, the port said in a press release. With this new agreement, the port has so far awarded five projects under public-private-partnership (PPP).
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app