The concession agreement was signed between MPT and Goa Seaport Pvt ltd, a Vedanta venture. The company had received the ‘Letter of Award’ for the project on April 15, this year on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.
The agreement was signed by Vedanta’s iron ore business Chief Executive Officer Kishore Kumar, also the Director of the newly formed Special Purpose Vehicle, Goa Sea Port Pvt Ltd which is a subsidiary of Sterlite Ports and I Jeyakumar, Chairman of Mormugao Port Trust in the presence of Union Road, Transport, Highways and Shipping Minister Nitin Gadkari and Chief Minister Laxmikant Parsekar.
Speaking on the occasion, Gadkari said, “Redevelopment of Mormugao Port will help improve the infrastructure and enable development of the State. The project has huge potential and will usher in a great deal of progress to the State and its people.”
He added that it is important to develop port infrastructure in India, which has a long coastline. Such projects will help reduce the logistics cost most important for trade and generate employment opportunities to socio-economic progress, he stated.
