NEW DELHI: A consortium including Gammon Infrastructure Projects Ltd and MMTC Ltd have signed a concession agreement with Paradip Port Trust in eastern India to develop an iron ore terminal.
The terminal will cost about 5.06 billion rupees, and the consortium will give 36.8 percent of the revenue to the port during the 30-year concession period, the federal shipping ministry said in a statement on Wednesday.
Construction will be completed in three years from the award of the agreement, it said.
Gammon Infra has 31 percent stake in the project which will be able to handle 10 million tonnes of annual throughput, the construction company said in a statement to the National Stock Exchange.
Noble Group Ltd is the third consortium partner, it added.
Source : Economic Times 02/07/09
