Indian steel production giant, Tata Steel has agreed to take a 50% stake in International Seaports Pte Ltd (ISPL), with construction and engineering firm Larsen & Toubro holding the remainder.<\/p>\n
The deal sets the stage for the development of what will be India’s deepest port.<\/p>\n
The facility is scheduled to be built in two phases, with the first due to come on stream in December 2007, at an overall investment of an expected $329.5-439.5m.<\/p>\n
Construction is due to begin in January 2005. The first phase will boast an annual handling capacity of 25m tonnes which could rise to 40m tonnes, and there is talk about the possibility of building a container terminal.<\/p>\n
The deal was a relief to Larsen & Toubro, which had been looking for a partner since its original collaborators – SSA of America and Thailand-based tramp operator Precious Shipping – pulled out of the consortium two years ago after mounting frustration at the time it took to obtain the necessary permits. While these now appear to have been ironed out, problems do remain. The nearby coastline is the nesting place for the rare Olive Ridley turtles, and observers predict that the project will be subject to blocking manoeuvres from environmental groups.<\/p>\n","protected":false},"excerpt":{"rendered":"
India is set to get its first port with a depth alongside quay of 18 metres after local partners agreed to commence construction of a new bulk facility at the port of Dhamra.<\/p>\n","protected":false},"author":8,"featured_media":2667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[],"sponsor":[],"class_list":["post-2666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/2666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=2666"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/2666\/revisions"}],"predecessor-version":[{"id":2668,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/2666\/revisions\/2668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media\/2667"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=2666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=2666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=2666"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=2666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}