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SumanSpeaks Capital Markets & Geopolitical Intelligence · Estd 2006 Governance · Regulatory Risk Reliance Power: When Legal Clouds Gather Over Market Euphoria ₹20,367 crore attached across the Reliance Anil Ambani Group. A ₹68.2 crore fake bank guarantee at the centre of it. A former CFO in custody for ten months and counting. And a stock that's still down more than half from its 52-week high even after a sharp rally. The market is pricing the turnaround. The Enforcement Directorate is pricing the history. Both can't be right forever. Reliance Power Ltd (₹24.07) has genuinely turned a corner operationally over the past two years — debt reduction, a growing renewable and BESS order pipeline, and periods of sharp investor re-rating. That part of the story is real and deserves credit. But sitting underneath that story is a live,...
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Essar Ports to invest Rs.1,200 cr in Vizag port
[Vishakhapatnam port handled 12.3 mt of iron ore in financial year 2013. Moreover, in the past couple of weeks we have seen an explosion in many of the shipping related stocks in several of the world markets. The dry bulk index has shot higher and is up over 100% in the past several months, and investors have been piling into shipping stocks]
December 14, 2013: Essar Vizag Terminals, a wholly owned subsidiary of Essar ports, has entered into an agreement with the Visakhapatnam Port Trust for development and operation of three iron ore berths.

The company will invest Rs 1,200 crore in the project, to be developed on a build-own-operate basis over 30 years.,center>


The three berths (two outer harbour berths and one inner) will have a combined capacity of 23 million tonnes a year (mtpa). The concession agreement was signed at a ceremony here in the presence of G K Vasan, the shipping minister. Essar Ports will take over the two outer berths soon to upgrade them. The Vishakhapatnam port handled 12.3 mt of iron ore in financial year 2013.

Rajiv Agarwal, managing director, Essar Ports, said: "We will develop the terminal to create one of the most competitive, modernised facilities. This project will significantly increase our third-party cargo-handling capacity and also boost our presence on the east coast." 

Courtesy: The Business Standard

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