Blue Water Iron Ore Terminal has signed a concession agreement with Paradip Port Trust in India to build a new deep draught iron ore terminal at the port. The private sector company was established by a consortium encompassing MMTC, the Noble group and Gammon Infrastructure Projects. The development will be taken forward as a public-private-partnership on a build-own-transfer basis.
Investment will reach $313 million. The facility will be able to handle 125,000dwt vessels in its initial phase. Additional development will enable 185,000dwt Capesize bulk carriers to call later.
Barry Cross