Adani Ports gets nod to build dry bulk terminal at Kandla
Tuesday, 28 February 2012 | 12:58
Diversified Rs 30,000 crore Adani Group's venture Adani Ports and Special Economic Zone (APSEZ) received letter of intent from the Kandla Port Trust of Government of India to set up a dry bulk terminal on build, operate and transfer basis.
APSEZ emerged as the highest bidder on revenue share basis and has been awarded the concession in a competitive bidding scenario. The dry bulk terminal will come up at Tekra near Tuna outside Kandla Creek at the Kandla Port, which is India's largest port by volumes. The construction of the new bulk terminal will begin after signing of the concession agreement with the Kandla Port Trust in next couple of weeks.
APSEZ will invest Rs 1,200 crore to commission four berths. The depth at Tekra is estimated to be 16.5 meter and it is aiming to accommodate ships carrying upto one lakh tonne of DWT. Meanwhile, APSEZ is waiting for the response from the African government to commission a port facility. It has already identified potential locations and submitted a proposal to the government of Africa.
"We are extremely pleased to partner with the Government of India and the Kandla Port Trust and would like to thank them for their faith and confidence in the Adani Group's execution and operating capabilities for setting up world class ports. The Kandla Port's strategic location will be an important factor in attracting cargo from the north-west hinterland and will assist Adani Ports to cross cargo handling volumes of 200 million tonnes by 2020," APSEZ wholetime director Rajeeva Sinha said. He added that the company is working on brownfield and greenfield projects for capacity addition at various locations.
APSEZ CFO B Ravi stated that the project will become operational in phases and all four berths are expected to be commissioned in next couple of years.
Adani Ports is claiming to be the only private port infrastructure company to operate and construct ports and terminals across six locations in India - Mundra, Dahej and Hazira in Gujarat, Mormugao in Goa and Visakhapatnam. Its port at Mundra in on West Coast is the fourth largest commercial and largest private port in India.
Last week, Adani Group announced to focus on resources, logistics and energy. All of these clusters are confident of emulating the group's leadership philosophy of utilising cutting-edge innovation and technology for growth and expansion, read the media statement issued by APSEZ.
Source: Economic Times
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