December 24 - According to media reports, India's Mormugao Port Trust (MPT) plans to invest over USD317 million over the next five-years to carry out various development projects at the port.

MPT has proposed five projects including a multipurpose cargo handling terminal, a mechanised coal handling plant, an offshore liquid bulk handling terminal, a new general cargo handling berth and the development of the Vasco Bay area.

MPT expects to get approval for the multipurpose terminal, which will incorporate two general cargo berths, from the central government by February 2015. The development is expected to cost around USD150 million.

In addition to these improvements, MPT intends to deepen its existing outer channel from 14. 3m to -19.8 m and the inner turning circle from 14.1 m to 19.5 m. The cost of the project is USD47 million and approval is expected by May 2015.