Kamarajar Port Limited (KPL) in Ennore in a recent move has signed a concession agreement with SICAL Iron Ore Terminal Ltd. (SIOTL) to modify iron ore terminal to handle common user coal and in the deal, the former has offered a revenue share of 55.52%. The conversion exercise will commence in October 2016 and will be commissioned in 12 months from the date of commencement of work on the Design-Built –Finance-Operate-Transfer (DBFOT) basis, shipping ministry sources said. Adding further, KPL's decision to modify its iron ore terminal to handle coal followed the ban on the export of iron ore imposed by the Karnataka High Court and the Supreme Court. KPL had originally inked a contract with SICAL Iron Ore Terminal Ltd. in September 2006 for building the iron ore terminal but the commissioning of the terminal was stalled because of the ban on export of iron ore. On this score, all the mandatory approvals are already put in place and the bidding process has started.
📅Published on:
24 July 2016
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