Indian company Essar Ports of the Essar group plans to invest US$500 million to build a new coal terminal in Mozambique,  Rajiv Agarwal, the chief executive of the company said in Mumbai on Monday.

In August 2017, Essar Ports signed a 30-year concession agreement with the Mozambican government for construction of the coal terminal at the port of Beira, in Mozambique’s Sofala province.

The coal terminal to be built in Mozambique will be the only business that Essar Ports operates outside India. (source: Macauhub)