Essar Ports is likely to sign a concession agreement with the Mozambique administration for development of a port there in the next six months

Mr Rajiv Agarwal MD of the company told Business Line that “We are in talks with Mozambique authorities. We expect to have a clear idea on the size and investment for the proposed port there within the next six months.”

While the company is yet to peg an investment for the project, it will be looking at setting up a 30 to 40 million tonnes port in Mozambique, which will be its first overseas project.

The port will be handling iron ore for one of its affiliates and coal for third party customers.

(Sourced from BL)