ALBA Asia Pvt Ltd, an equal joint venture between Mumbai-listed Starlog Enterprises and French shipping firm Louis Dreyfus Armateurs S.A., will open a new coal terminal at VO Chidambaranar Port Trust (VOCPT) in Tamil Nadu’s Thoothukudi district on Friday. The 10-million-tonne (mt) terminal will help the Central Government-owned port raise its coal handling capacity to 24 mt by 2019. In 2010, ALBA Asia Pvt Ltd won the contract in a public tender to build and operate a coal-loading facility at VOCPT for 30 years by placing the highest revenue share price bid of 52.17 per cent. Tuticorin Coal Terminal Pvt Ltd (TCTPL), the special purpose vehicle (SPV) set up to implement the project, invested ₹640 crore to construct the facility. The total project cost overshot the original estimates of ₹465 crore mainly due to a two-year delay in dredging the berth by VOCPT to accommodate Panamax-size ships at the facility, a spokesman for TCTPL said.
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07 January 2018 - 14:56
Update: 08 January 2018 - 00:10
ALBA Asia to open coal terminal at VO Chidambaranar port
ALBA Asia Pvt Ltd, an equal joint venture between Mumbai-listed Starlog Enterprises and French shipping firm Louis Dreyfus Armateurs S
PORTS
07 January 2018 - 14:56
Update: 08 January 2018 - 00:10
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