Gammon Infrastructure Projects Ltd has notified that the company in consortium with Hong Kong-based Noble Group Ltd and state-run trading company MMTC has bagged a project from Paradip Port Trust.

Under the arrangement, all partners will jointly develop Deep Draught Iron Ore Berth' at Paradip in Orissa on a build-operate-transfer basis (BOT) basis.

The Project envisages construction and equipping of a berth handling an annual throughput of 10 million tonnes. The concession period of the Project is 30 years, including a construction period of 3 years.

The consortium has formed a special-purpose-vehicle (SPV) Blue Water Iron Ore Terminal for executing the project.

Gammon Infrastructure stated in a communiqué that it has 31% equity stake in the Special Purpose Vehicle implementing the project.

After the completion of the project, the Port will be able to handle cape size vessels of up to 125,000 DWT capacity.

The Project cost has been estimated by the PPT at Rs 505 crores.