The port will cost about $391 million to develop.

The takeover will be completed by June 1.

Five companies shortlisted to provide financing details to port authority.

Plan includes addition of berths, railway and airport projects at Mundra port.

Hopes to turn it into India's largest port by 2013.

Mid-sea bunkering facilities being planned to capture increasing coastal vessel traffic.

Sees potential for India to sell about 23-24 million mt of bunkers per year by 2011-2012.

Joint venture sold 50,000 mt of bunkers in Mundra in March.

It recently handed its bunkering business to its joint venture company.