Essar Plans to Add $275 Million Mozambican Port to African Portfolio
Posted on March 05, 2013 at 02:11 AM EST
JOHANNESBURG--March 5, 2013--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--As part of its expansion plans into Africa, the Essar Group (Bombay, India) is planning to set up a 10 million-ton capacity port in Mozambique with a capital investment of $275 million. The port facility will be used to export products from Zisco, a Zimbabwean iron and steel company Essar acquired in 2010, from Zimbabwe to India. Other companies features: Essar Energy (OTC:ESSRF)