Monday, February 6, 2012

INDIAN GROUP PLANS NEW PORT IN MOZAMBIQUE

The second largest private port operator in India, Essar Ports, is likely to sign a concession agreement with the Mozambican government for the construction of a new port in Mozambique, according to reports in the Indian press. The port would be aimed largely at handling some of the vast amount of coal exports that the mines now being opened in Tete province will generate over the next few years.“We are in talks with the Mozambique authorities. We expect to have a clear idea on the size and investment for the proposed port there within the next six months,” Rajiv Agarwal, Managing Director of Essar Ports, told the paper Business Line. The port will handle 30-40 million tonnes of cargo a year – mostly iron ore used by an Essar Group affiliate, and coal for the mining companies operating in Tete.Also on the drawing board is a plan to build a slurry pipeline to connect the Mozambique port to Zimbabwe. The aim is easier movement of iron ore and pellets to support the raw material required at the Essar Group's recently acquired Zimbabwe Iron and Steel Company.

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