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i-maritime Newsletter

Adani Ports to invest Rs 1,200 cr in Kandla Port project - 2012-02-27

Adani Ports and Special Economic Zone (APSEZ), a multi-port operator belonging to the Adani Group, has received the Letter of Intent (LoI) from the Kandla Port Trust (KPT) for establishing a dry bulk terminal at the Kandla Port on Build, Operate and Transfer (BOT) basis.

The company would invest Rs 1,200 crore to develop the terminal, APSEZ said in a communication to the stock exchanges.APSEZ said that it had emerged the highest bidder on revenue share basis and the dry bulk terminal would come off Tekra near Tuna outside the Kandla creek at the Kandla port that was the biggest port in the country by volume. The work on the project would begin after the concession agreement is signed with the KPT.The new terminal would have an annual capacity of 20 MMT and is expected to be commissioned by 2014.

Source: Hindu Business Line