In this regard, Afcons, a marine infrastructure wing of Shapoorji Pallonji might sign an MoU with Gujarat Maritime Board (GMB). Mou would be signed during the Vibrant Gujarat meet in January 2009, to develop a greenfield port at Simar.
Shapoorji Pallonji is the largest private shareholder in Tata Sons Ltd has 18.5 per cent stake and holds in 21.9 percent in Tata Motors. Plan to invest Rs 800 crore to develop and handle bulk cargo in Simar port is being speculated. Afcons will receive letter to develop the port.
By 2012, the first phase of the project will be complete. Additional capacities to this would be built by 2020.
OneIndia News (With inputs from Agencies)