The New Mangalore Port Trust (NMPT) has moved close to striking a deal with a firm to set up a mechanized iron ore handling facility at a cost of INR 300 crore. Chennai-based Sical Logistics Ltd, a provider of integrated solutions for offshore logistics and multi-modal logistics for bulk cargo, will be the investor for INR 300 crore. The company will build it on Build Own Transfer basis and offer 37% of the gross revenue to NMPT. The project involves payment of INR 11 crore annually as licence fee and one time success fee of INR 4 million to NMPT. The company will get two years to execute the project after signing of the deal, which could happen in three months from now. The mechanized ore facility is expected to handle 6.62 million tonnes a year.
