Adani Ports-led arm to enhance capacity of Haldia Dock in Bengal

16 Sept 2022 , 09:36 AM

Adani Ports and Special Economic Zone Limited's (APSEZ) wholly-owned subsidiary HDC Bulk Terminal Limited (HBTL), India's biggest integrated transport utility and part of the Adani Group, has signed a Concession Agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for the automation of Berth No. 2 at Haldia Port. This follows SMPK's earlier selection of APSEZ as a winning bidder in February.

According to the Concession Agreement signed between SMPK and HBTL, the Special Purpose Vehicle (SPV) formed to implement the project will have the rights to design, build, finance, operate, maintain, and manage the bulk terminal with a capacity of 3.74 million tonnes per year at Haldia Dock Complex in Haldia for a 30-year concession period.

The Haldia Dock Complex comprises numerous bulk handling facilities at Haldia that are managed by SMPK. The Haldia Dock Complex serves a huge hinterland that includes Bengal, Bihar, Uttar Pradesh, Jharkhand, Assam, the Northeastern Hill States, and Nepal, a landlocked bordering nation.

This port will manage the raw material supply chain for the hinterland's steel mills, power plants, and cement plants.

The potential to deliver bulk freight handling services that are totally mechanised, highly efficient, environmentally friendly and pollution-free is the project's key USP. The project will not only increase efficient port capacity, but it will also assist port customers cut logistical costs by shortening the turnaround time of boats stopping at Haldia Dock.

According to the signed Concession Agreement, HBTL will complete the project's financial closing within six months and begin building the port. The project is expected to cost Rs298 crore. The project has already received environmental approval.

At around 9.34 AM, Adani Ports & SEZ was trading at Rs970.30 up by 0.17% from its previous closing of Rs968.65 on the BSE. The scrip opened at Rs971.80 and touched intraday high and low of Rs976.25 and Rs961.60 respectively.

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