Adani Ports enters Bengal with Rs 298 crore Haldia project

Must read

NEW DELHI: Adani Ports and Special Economic Zone (APSEZ) subsidiary HDC Bulk Terminal Ltd will modernise the Haldia port in West Bengal at an estimated cost of Rs 298 crore, marking the Ahmedabad-based conglomerate’s entry in the state’s ports sector.
“The upgradation of Haldia bulk terminal provides us the opportunity to firmly establish APSEZ’s footprint in West Bengal,” the company quoted APSEZ chief executive Karan Adani as saying after the concession agreements was signed on Thursday for mechanisation of berth number 2.
APSEZ has also emerged as the highest bidder for the Mamata Banerjee government’s Rs 7,000 crore showcase Tajpur deep sea port project but the state is yet to award the contract. Another group company, Adani Wilmar, has an edible oil plant in Haldia.
At the Bengal Global Business Summit in April, group chairman Gautam Adani had announced that his edible oils-to-energy and infrastructure conglomerate will invest Rs 10,000 crore for developing world-class ports, data centres and connecting undersea cables, centres of excellence in digital innovation, warehouses and logistics parks.
The Haldia dock complex houses various bulk handling facilities catering to supply chain of raw materials for steel plants, power plants and cement plants across a vast hinterland spanning West Bengal, Bihar, Jharkhand, UP, Assam, northeastern states and Nepal.
The concession agreement envisages forming a SPV (special purpose vehicle) that will get the rights to design, build, finance, operate, maintain and manage the bulk terminal with a capacity of 3.7 million tonne per annum for 30 years.



Source link

More articles

- Advertisement -

Startup

SEBI’s AI Tool ‘Pinaka’ To Identify Stock Recommendations On TV Shows

SEBI has developed an AI-based system called Pinaka that will scan various bourses-related television shows and form a database of recommendations made by...
- Advertisement -

Latest article