AM/NS India clinches deal for captive berth at Paradip Port

ArcelorMittal Nippon Steel India Ltd (AM/NS India) has reportedly secured the right to pay Rs 451 crore to mechanise and operate the CQ-III berth at Paradip Port for 30 years, processing 10 million tonnes (mt) of dry bulk cargo on captive basis. In order to secure the contract, ArcelorMittal Nippon Steel India Ltd, a joint venture between two of the leading steel producers in the world, agreed to split Rs 62.20 per metric tonne of cargo handled at the berth. This is crucial for transporting goods into and out of its pellet plant, which is located next to the port on the east coast. The contract was finalised through the policy for the award of waterfront and associated land to port-dependent industries in Major Ports, as per a report.

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