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Corporate Announcement

Security Code : 500295    Company : VEDL    
 
Updates 
  Exchange Disseminated Time     15/04/2016 15:01:50
Vedanta Ltd has informed BSE that Sterlite Ports Limited, a wholly owned subsidiary of the Company, will be signing a MoU pursuant to ‘Letter of Award’ for redevelopment of existing berths 8, 9 and barge berths at the Port of Mormugao (‘Project’), Goa on Develop, Build, Finance, Operate and Transfer (DBFOT) basis for a concession period of 30 years with the Mormugoa Port Trust. The Project is awarded to the Company through a competitive bidding process.

The redeveloped berths are planned to handle all type of cargo including iron ore, coal and general cargo with an expected capacity of 19.22 million tonnes per annum. Redevelopment of the berths would be done over a period of 3 to 5 years.

Company is the largest exporter of iron ore from Goa and this project would provide logistic integration to our iron ore business apart from handling other cargo.
 

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