Adani, Essar sign deals with Vizag Port Trust.

Visakhapatnam Port Trust (VPT) has signed two concession agreements totaling Rs. 1,173 crore to upgrade an ore handling complex and to add a new berth.

It signed an agreement with Vadinar Oil Terminal of the Essar Group to upgrade an ore handling complex on a private-public-partnership (PPP) mode at a cost of Rs. 845.41 crore. VPT Chairman R.P.S. Kahlon signed the agreement with Rajiv Agarwal, Managing Director, Essar Ltd. The terminal will handle 23 million tonne (mt) of cargo annually.

HBL