The New Mangalore Port Trust has signed concession agreement with M/s Sical Iron Ore Terminal (Mangalore) Limited for the project to set up iron ore handling facilities at deep draft multi purpose berth (No. 14) on built operate and transfer (BOT) basis.
A release by NMPT chief engineer (civil) M R Hedaoo stated that NMPT chairman P Tamilvanan and Sical Iron Ore Terminal (Mangalore) managing director L R Sridhar signed the agreement here on October 19.
The project envisages setting up of mechanical facilities for handling iron ore in the deep draft berth of New Mangalore Port on BOT basis. The estimated project cost is is Rs.277.11 crore. The selected firm has offered 37% gross revenue share to port and Rs 11 crore as license fee every year, he said.
Source: Times Of India
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