MUMBAI, April 18, 2016 /PRNewswire/ -- Sterlite Ports Limited, a wholly owned subsidiary of Vedanta Limited, will be signing a MoU pursuant to 'Letter of Award' for redevelopment of existing berths 8, 9 and barge berths at the Port of Mormugao ('Project'), Goa on Develop, Build, Finance, Operate and Transfer (DBFOT) basis for a concession period of 30 years with the Mormugoa Port Trust. The Project is awarded through a competitive bidding process.
The redeveloped berths are planned to handle all type of cargo including iron ore, coal and general cargo with an expected capacity of 19.22 million tonnes per annum. Redevelopment of the berths would be done over a period of 3 to 5 years.
Vedanta Limited is the largest exporter of iron ore from Goa and this project would provide logistic integration to our iron ore business apart from handling other cargo
For further information, please contact:
President – Group Communications, Sustainability & CSR
Tel: +91 22 6646 1000
Director – Investor Relations
Manager – Investor Relations
Manager – Investor Relations
Tel: +91 22 6646 1531
About Vedanta Limited (Formerly Sesa Sterlite Ltd.)
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia, Ireland and Liberia.
Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
For more information please log on to www.vedantalimited.com
(Formerly known as Sesa Sterlite Limited)
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
Sesa Ghor, 20 EDC Complex,
Patto, Panaji (Goa) - 403 001
This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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SOURCE Vedanta Limited