Amaravati, Feb. 23 -- Adani Ports and Special Economic Zone Ltd (APSEZ), through its subsidiary Adani Gangavaram Port Limited, has signed a memorandum of understanding (MoU) with NMDC Limited and Brazil-based Vale S.A. to develop an iron ore blending facility at Gangavaram Port.

The agreement was signed at the India-Brazil Business Forum Summit in New Delhi.

Under the MoU, the three companies will jointly develop and manage an integrated iron ore blending and value-addition ecosystem within a dedicated Special Economic Zone (SEZ) at Gangavaram Port.

The facility is aimed at strengthening the iron ore export value chain on India's East Coast and improving efficiency in mineral processing and trade.

The development is expected to increa...