The company, which operates four port facilities at Hazira, Salaya,Vadinar and Paradip, will also increase its presence in container terminal business in India as it looks to expand, reports The Times of India.
"Talks are on at the moment and we are likely to see it conclude in the next two months. Port of Antwerp is looking to invest in India and they see potential in us and we think it worthwhile for us," Agarwal said.
He said the amount would come in as fresh investments and is not related to lowering promoter holding to 75% from the 83% to meet a recent norm from capital market regulator Sebi.
A person close to the development said Port of Antwerp is likely to invest about $25-50 million for a less than 10% stake in Essar Ports.
Last year, Port of Antwerp had signed a memorandum of understanding with Essar Ports to provide advisory and consultancy, investment, training and enhancing commercial relations in India and abroad.
"Essar Ports is looking to increase capacity to 158 million tonne from 88 million tonne and it will need more funds if it has to complete another 50% of the capacity," said a financial analyst, who tracks the company. "It is always good to raise money through a stake sale since that helps its debt equity ratio. It will be able to raise more money through debt in such a scenario," he said.
Essar Ports, listed on the bourses last year, has been involved in liquid and bulk cargo business, but with the central government's ambitious plan to award more than 25 port projects in the current fiscal, the company will now look for tie-ups to venture into the container terminal business as part of its expansion.