The Kolkata port authorities on Thursday officially handed over the letter of award to Gautam Adani controlled Adani Ports and Special Economic Zone Limited (APSEZ) for mechanisation and upgradation of a berth in Haldia Dock Complex (HDC).
This marks the entry of the country's largest private port operator in West Bengal's maritime sector.
Syama Prasad Mookerjee Port (SMP), formerly the Kolkata Port Trust, said in a statement that the project envisages incorporating environment friendly, fully mechanised technology for handling dry bulk cargo.
Berth no. 2, where the company will work, will offer a capacity of 3.744 million metric tons per annum and the investment will be about Rs 298.26 crore.
The project is expected to commence in the fourth quarter of FY 2024-25.
APSEZ outbid city-based Ripley & Co by quoting a royalty of Rs 75 per tonne for the rights to mechanise and run the dry bulk cargo handling berth at HDC.
Adani had initially shown interest in privatisation of Kidderpore dock in Kolkata but later did not participate in the financial bid.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU