The Cabinet Committee on Infrastructure has approved the project of development of a Standalone Container Handling Facility with a Quay Length of 330 Meter towards North at Jawaharlal Nehru Port Trust (JNPT) on Design, Build, Finance, Operate and Transfer (DBFOT) basis.
The facility will have the capacity to handle more than 0.8 million Twenty Feet Equivalent Units (TEUs) per annum. The total project cost including development of civil works, capital dredging, cost of equipment etc. is estimated to be Rs.600 crores. The project is to be implemented within a period of 24 months from the date of award of the concession.
The proposed infrastructure development project has been formulated keeping in view the geographical considerations and the container traffic originating from the northern States and the industrial development of the northern and western India. Increase in physical capacity and improvement in efficiency of JNPT would be for the benefit of the nation in terms of development, progress and boost EXIM Trade.
The project is being developed through the Public Private Partnership (PPP) mode to reduce burden on the Government funds which are not sufficient to meet all infrastructure needs of the country. The project will be awarded through competitive bidding in a transparent manner. It will also generate competition, and hence benefit to the users. Tariff has been fixed upfront by the Tariff Authority for Major Ports, a statutory body.
The infrastructure will have the state of the art mechanized and innovative technology, available in the international market for handling the cargo, which in turn will improve the efficiency and capacity of the Port and also reduce turn around time of the vessels.
Jawaharlal Nehru Port Trust (JNPT), one of the twelve major ports under the administrative control of the Ministry of Shipping, Government of India was commissioned in the year 1989 and is governed under the Major Port Trust Act 1963. JNPT is located on the east side of Mumbai Harbour, adjoining the main land of the west coast of India.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.