Essar Ports bags Mozambique coal terminal deal
Essar Ports Ltd has won a deal to develop a 20-million-tonne capacity coking coal loading terminal at Beira Port in Mozambique. This is the first overseas venture of the port operating unit of the Essar Group. The terminal will be developed in two phases of 10 mt each, with the first phase costing $275 million and expected to start operations in the first quarter of 2020. Essar Ports will own a 70 per cent stake in New Coal Terminal Beira SA (NCTB) with the balance held by Portos e Caminhos de Ferro de Moçambique.