The aforementioned MoU was signed at the recent India–Brazil Business Forum Summit that was held in New Delhi.

Vale is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world. It also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt. The company also operates numerous hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products.

The tripartite agreement establishes a strategic framework for the development of an iron ore blending facility and a dedicated Special Economic Zone (SEZ) at Gangavaram Port.

Under this collaboration, the parties will jointly develop, operationalize, and manage an integrated SEZ-based ecosystem for the blending, value addition, and commercialisation of iron ore.

This initiative is designed to strengthen the iron ore export value chain on India’s East Coast while enhancing efficiency, scale, and global competitiveness in mineral processing and trade.

With this development, the capacity of Gangavaram Port will increase up to 75 MMT, and it will become a hub for iron ore exports for India and the region.

Ashwani Gupta, whole-time director & CEO, APSEZ, said: "This collaboration reflects a shared commitment to building resilient, future-ready infrastructure that strengthens India’s position in global supply chains.

By integrating high-quality mineral logistics with advanced port capabilities, we are supporting industry requirements while contributing to the country’s broader economic growth. Our partnership with NMDC and Vale will help establish a modern, efficient, and sustainable ecosystem for the iron ore sector on the East Coast.

Gangavaram Port is poised to become the first port in India capable of handling Valemax vessels — the world’s largest very large ore carriers (VLOCs)."

Adani Ports and Special Economic Zone (APSEZ) is the largest private port operator in India. APSEZ operates a portfolio of 15 domestic ports/terminals with an international presence at 4 global ports/terminals. Along with its port operations, it has its wide logistics network and offers various port-based marine services to its owned ports/terminals as well as other ports.

The company’s consolidated net profit jumped 24.9% to Rs 3,176.72 crore on 21.9% rise in revenue from operations to Rs 9,704.59 crore in Q3 FY26 over Q3 FY25.