Sterlite to commission Rs. 675 crore coal berth at Vizag

Posted By: Religare
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Sterlite to commission Rs. 675 crore coal berth at Vizag
India's largest non-ferrous metals and mining major, Sterlite Industries is planning to commission its Rs. 675 crore coal-handling facility at Visakhapatnam port by Jul" 2012. A spokesperson of the Vedanta group arm quoted, "It is on schedule, we plan to commission it by mid-2012, likely by July, 2012."

Sterlite Industries in association with Leighton Contractors Indi bagged the US$150 million (about Rs. 675 crore) mechanized coal-handling facility in 2010, on a revenue-share basis for the 30-years. 

For the upcoming new coal berth at Vizag, a coal-handling rate of Rs. 131.94 per tonne has been fixed by the Tariff Authority for Major Ports. And hence, under its bid to share 38.1 per cent of revenue, the company would be sharing Rs. 50.26 per tonne of its operating income from handling the cargo at the port.

Apart from this, Rs. 900-crore joint venture between Sterlite and the Indian subsidiary of the Australian diversified group Leighton Contractors, is also constructing a berth for handling clean cargo at the Paradip port on a build-operate-transfer (BOT) basis. 

Story first published: Monday, May 9, 2011, 9:30 [IST]
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