Jindal ITF announces project driven partnership with SULA

India Infoline News Service | Mumbai | August 27, 2014 17:23 IST

The project is set to deliver three million tons of coal to Farakka via Hooghly river

Jindal ITF, a wholly owned subsidiary of Jindal SAW Ltd and Sula Shipping & Logistics Private Limited, pioneers of transshipment and barging of coal at Sandheads for the Farakka transshipment project, announced a project driven partnership. Together JITF and SULA are not only the pioneers but have also created the first commercially viable project. This partnership will increase the efficiency of the NTPC-Farakka waterways project which delivers imported coal to Farakka through barges.

The project is set to deliver three million tons of coal to Farakka via Hooghly River and ease congestion on rail rakes and roads. The Hooghly and Ganga waterway, under the new initiatives launched by the government will soon form a major supply route to and from the hinterland of North and East Indian industrial areas. The waterway is expected to move significant amount of coal in the next decade. It is further expected that transloading offshore in the NE Bay of Bengal and barging inland will increase to about 24 million tons in the next few years, bringing huge cargo volume directly to Haldia and Kolkata ports and riverine industries. Such potent and cost effective movement will bring about a paradigm shift lowering costs in an eco-friendly manner.

The Government of India has made the development of Inland waterways a top priority. Inland Waterways Authority of India – IWAI is working on multiple projects that will need similar services that are already being provided by JITF and SULA. This partnership combines the existing strengths of both the companies for the expected surge in Inland waterways traffic as well as the offshore transshipment business.

Both JITF and SULA have signed an MOU to give effect to this arrangement. The operations under this arrangement will be led by Capt. Shrikant Chandra - COO and Country Manager of SULA. Both JITF and SULA announced their satisfaction over the arrangement. The integration process of the assets and teams will commence immediately.
 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.