ABG-LDA Bulk Handling expect to have its fertilizer berths in place at Visakhapatnam port, in India, by the end of 2014 after having achieved financial closure for the project, which is estimated to cost $57 million. Funding is coming from a consortium of four banks headed by SBH. The new berths will be mechanized and operationally more efficient, as well as reducing pollution at the port.
In addition, in December, the company expects to commission its latest mechanized multi-cargo berths. Costing $285 million, it will handle steel, granite and other bulk cargoes, offering capacity of 5mt (million tonnes) per year.
Once both terminals are in operation,ABG will have boosted its handling capacity in the port from 6mt per annum to around 16mt.