NMPT inks 7 pacts for ₹1,417 crore investment in the port

The New Mangalore Port Trust (NMPT) on Wednesday entered into seven memorandum of understandings (MoUs) for investment at the port in the run-up to the Virtual Maritime India Summit, 2021, scheduled between March 2 and March 4.

NMPT chairman A.V. Ramana and other senior officers of the port signed the pact with different companies, including Mangalore Refinery and Petrochemicals Ltd., in the presence of Deputy Chief Minister C.N. Ashwath Narayan and Nalin Kumar Kateel, MP, during the Mangaluru Innovation Conclave.

The biggest investment comes from MRPL in the form of seawater desalination plant work of which was in the advanced stage on NMPT’s leased land to the former.

MRPL will invest ₹637 crore for the project that provides industry-quality water to MRPL reducing its dependence on freshwater. With this, MRPL could operate round-the-clock throughout the year.

Company Managing Director M. Venkatesh and Mr. Ramana signed the understanding.

Adani Cements inked a pact with NMPT for setting up a conveyor system in the port with silos, a packing plant, and other allied facilities to receive, store, pack and distribute cement, fly ash and slag to different parts of the State as well as neighbouring States.

Adani’s Director Rohit Vohra and NMPT Deputy Chairman K.G. Nath signed the understanding that promises ₹133 crore investment.

Mr. Venkatesh and Mr. Ramana also signed a pact for laying of Bharat Stage VI high-speed diesel (HSD) pipeline from MRPL to NMPT for supply of HSD at a cost of ₹73 crore. Central Warehousing Corporation’s Group General Manager Shivanand Rai and NMPT’s Traffic Manager Y.R. Belagal signed another understanding for development of warehousing facilities and container freight station within the port premises with an investment of ₹100 crore.

Indian Oil Corporation will construct tank farm and renovate its oil terminal within NMPT premises at a cost of ₹350 crore. NMPT also inked a pact with Dredging Corporation of India for Monsoon maintenance dredging of the Port for three years at a cost of ₹111.22 crore.

Besides, Ultratech Cement signed a pact to construct a 5,000-tonne capacity cement silo at a cost of ₹13 crore.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.


A one-stop-shop for seeing the latest updates, and managing your preferences.


We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.