India's Hazira Port, a joint venture between Royal Dutch Shell and French oil major Total, has drawn up a blueprint to develop its existing liquefied natural gas (LNG) import terminal in Hazira into a US$500-million multi-cargo port, the Economic Times reported.
The project is expected to be operational in three to four years.
The company has appointed Citibank as the consultant for the project with a mandate to identify a partner capable of developing and operating the port.
The two joint venture partners have already invested about $225 million in developing the existing port and further investment would come from the prospective partner.
The joint venture partners, Shell and Total, hold 74 percent and 26 percent equity stakes, respectively.
The two firms also have plans to build a two-berth container terminal and a specialty chemical berth by sub-contracting the project to the prospective partner. The partner will operate the port and share revenues with Shell-Total.
The project is expected to be operational in three to four years.
The company has appointed Citibank as the consultant for the project with a mandate to identify a partner capable of developing and operating the port.
The two joint venture partners have already invested about $225 million in developing the existing port and further investment would come from the prospective partner.
The joint venture partners, Shell and Total, hold 74 percent and 26 percent equity stakes, respectively.
The two firms also have plans to build a two-berth container terminal and a specialty chemical berth by sub-contracting the project to the prospective partner. The partner will operate the port and share revenues with Shell-Total.