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Essar Group mulls port bid

Essar Group mulls port bid

Mumbai: Oil Steel and logistics expert Essar group may enter the port operation arean in the near future, reports the Times of India. Te group, which has recently undergone a restructure in its logistics divisions and changed, is reported to be putting together a bid for a new deep sea port in West Bengal.

Sanjay Mehta, md of newly christened Essar Ports & Logistics Ltd (EPLL) admitted that the group is keen to set up a deep sea port on the east coast. "We have expertise in port business and have interest in deep sea port in West Bengal," he told the Times. At present the group operates a bulk terminal in Vadinar, which has a capacity of 7m tonnes of cargo.

The group is expected to sign on a foreign partner for the project, which is in the process of applying for approval for the tendering process from the Indian Prime Minister's office.  [10/03/08]