Vadinar Liquid Terminals Ltd, a subsidiary of Essar Ports Ltd, on Monday said it has signed a concession agreement with Kandla Port Trust for development of marine liquid terminal facilities at Vadinar with an investment of nearly Rs 450 crore.
Essar Ports has also informed the BSE and NSE in this regard.
The term of concession agreement with KPT will be 30 years, sources told
The marine liquid terminal facilities to be developed will have a single-point mooring (SPM) and two product jetties at Vadinar on captive use basis for Essar. This work will be completed in the next two to three years.
The terminal’s total capacity will be 24.5 million tons per annum (mtpa)-14.5 mtpa for SPM and 10 mtpa for product jetties.
All products of Essar refinery at Vadinar will be handled by these facilities.
According to sources, KPT had earlier floated open tenders for developing these facilities but could not get adequate response. Following this, it entered into an agreement with Essar.