The Gangavaram Port expansion, which will see the port’s capacity increasing from the current 15 million tonnes to 45 mt, envisages an addition of three multi-purpose berths and a coal handling terminal.
“ We expect to wrap up the expansion project by 2013 or the first quarter of 2014 ,” Mr Pranav Choudhary, Chief Financial Officer of Gangavaram Port Ltd (GPL) , told Business Line.
The dredging contract, involving a removal of about four million cubic meters of silt, including rocks and sand trap, was bagged by the State-owned Dredging Corporation of India and the Chennai-based Sical Logistics.
Spanish major Duro Felguera bagged the €62 million order for supply of key equipment for the new coal berth.
The company will supply two new grab ship un-loaders of 62 tonnes, install a 11-km conveyor belt system and set up a new coal yard.
“ We have achieved the financial closure, with the debt component being about Rs 900 crore. It will be funded by a consortium of Indian banks ,” Mr Choudhary said.
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Dredging Today Staff, May 31, 2012;