Indian port group commits to investment in Beira port

India’s Essar group is set invest US$500 million over the next 30 months in three projects, one of which is to build a new coal terminal in Beira.

This follows the signing of a 30-year concession agreement with the Mozambican government late last year to develop the New Coal Terminal Beira (NCTB) as a public private partnership (PPP) project.

According to a statement on the Essar website, the project will be executed on a design, build, own, operate and transfer (DBOOT) basis through a subsidiary, New Coal Terminal Beira, SA (NCTB SA).