Diversified Indian firm Essar Group through its arm Essar Ports will invest US$500 million to expand capacities at its two existing domestic projects and also build a new Beira coal terminal in Mozambique, Chief executive officer and managing director Rajiv Agarwal has said.
“We will be investing US$500 million to increase our capacity in Hazira and Salaya. We will also build a new coal terminal in Mozambique,”he said.
The plan to construct a coal terminal in Mozambique follows a 30-year concession agreement signed in August 2017 by Essar Ports with the Mozambican government to develop the Beira coal terminal as a public private partnership project.
Read:Nigeria seeks funding for Ibom Deep Seaport