Mormugao port plans to invest Rs 1,000 cr for capacity expansion
Goa’s Mormugao Port Trust, which accounts for nearly 40% of the country’s total iron ore exports, plans to invest over Rs 1,000 cr for boosting capacity that will help ease congestion and allow bigger ships to dock at the port.
By TNN |
PANAJI: Goa’s Mormugao Port Trust (MPT), which accounts for nearly 40% of the country’s total iron ore exports, plans to invest over Rs 1,000 crore for boosting capacity that will help ease congestion and allow bigger ships to dock at the port.
One-fourth of this investment will go into mechanising iron ore and coal handling at two berths. “We are already handling more than our capacity; this is leading to a lot of waiting time for ships. Increasing our capacity will help augment trade as bigger ships will now be able to dock at our port,” port authority’s chairman Praveen Agarwal said.
Located close to iron ore mines, MPT is a hub of exports for the commodity. It handled 40 million tonnes of ore last year, against the capacity of only 29 mt. Heavy demand has led to congestion and delays.
Exporters say it could even lead to fall in exports if the situation continued. “Miners are already reeling under the new export duty, and then if their shipments are delayed, it can create huge dent in their margins,” Goa Mineral Ore Exporter’s Association executive director S Sridhar said.
MPT will also develop a ‘full fledged’ rig repair unit on Zuari river in south Goa. Currently, ships from India have to go to either Singapore or Dubai for rig repair. A local unit would be cost-effective for ships, shipbuilders say. The repair facility can also function as a passenger hub for cruise terminals.
The port will also develop a Rs 450 crore cruise cum container berth off Biana Bay in Vasco, south Goa. Six berths will be set up to handle bulk, liquid, container, passengers cruise terminal and other off-shore survey facilities.
Other cruises include Indian cruise liners, Costa cruise liners and Carnival lines. Last year saw nearly 30,000 cruise passengers arrive at MPT. Of this, a majority were from India’s first liner Super Star Libra, home-ported in Mumbai.
MPT has appointed consultants for studying the feasibility of its various projects. A report is expected within the next three months, after which the port would invite bids from private players.
One-fourth of this investment will go into mechanising iron ore and coal handling at two berths. “We are already handling more than our capacity; this is leading to a lot of waiting time for ships. Increasing our capacity will help augment trade as bigger ships will now be able to dock at our port,” port authority’s chairman Praveen Agarwal said.
Located close to iron ore mines, MPT is a hub of exports for the commodity. It handled 40 million tonnes of ore last year, against the capacity of only 29 mt. Heavy demand has led to congestion and delays.
Exporters say it could even lead to fall in exports if the situation continued. “Miners are already reeling under the new export duty, and then if their shipments are delayed, it can create huge dent in their margins,” Goa Mineral Ore Exporter’s Association executive director S Sridhar said.
MPT will also develop a ‘full fledged’ rig repair unit on Zuari river in south Goa. Currently, ships from India have to go to either Singapore or Dubai for rig repair. A local unit would be cost-effective for ships, shipbuilders say. The repair facility can also function as a passenger hub for cruise terminals.
The port will also develop a Rs 450 crore cruise cum container berth off Biana Bay in Vasco, south Goa. Six berths will be set up to handle bulk, liquid, container, passengers cruise terminal and other off-shore survey facilities.
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Many international cruises like Queen Mary II, based out of the Mediterranean coast and set to call on Goa by March and a UK-based cruise that wants to make Goa its home port have shown interest. Other cruises include Indian cruise liners, Costa cruise liners and Carnival lines. Last year saw nearly 30,000 cruise passengers arrive at MPT. Of this, a majority were from India’s first liner Super Star Libra, home-ported in Mumbai.
MPT has appointed consultants for studying the feasibility of its various projects. A report is expected within the next three months, after which the port would invite bids from private players.
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