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Thursday, 22 January 2015

Sanghi to invest $16.2m in Port of Navlakhi upgrade

Indian conglomerate Sanghi Industries Limited is to invest $16.2 million to develop its facilities at Port of Navlakhi in Gujarat State, the Economic Times reports.

“In line with the Ministry of Shipping agenda to increase transportation through the coastal sea route, Sanghi has set up a terminal with an investment of US$8m at Navlakhi Port. We will invest an additional US$16 million to further develop the terminal at Navlakhi as the sea route reduces our transportation cost considerably,” Alok Sanghi, director of Sanghi Industries said.

Situated on the southwest end of the Gulf of Kutch in Hansthal Creek, the port processes between 8,000 and 9,000 tonnes of coal per day.

Alongside finance for port development, Sanghi also plans to invest $24.3 million in renewable energy and installation of a 15MW waste heat recovery system (WHR).

"Our focus is on increasing efficiencies at our manufacturing facilities as well as reducing our carbon footprint by cutting down on pollutants that affect the environment," Sanghi commented.

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