Adani Ports & SEZ wins contract for Tajpur deep sea port

The company already has a 30% share in domestic ports segment

September 22, 2022 8:01 IST | India Infoline News Service

In order to further strengthen its hold over the regional infrastructure and transportation industries, the Adani Group will invest more than $3 billion to establish a port in West Bengal.

The Tajpur deep sea port will be developed by Adani Ports & Special Economic Zone Ltd., which is run by Gautam Adani, according to a statement from the state government. A total of Rs2.5 lakh crore ($3.1 billion) will be invested in the greenfield project, Rs1.5 lakh crore of which will be used to develop the port and the remaining for the construction of supporting infrastructure, according to the statement.

The most recent victory gives India's largest private sector port operator greater clout. The company already holds a 30% domestic market share and has been obtaining international contracts.

These contracts include the Sri Lankan port terminal and Israel's Haifa port project. It also highlights the Adani conglomerate's appetite for expansion, which has been seen in its aggressive entry into new industries like data centres, media, cement, and airports while expanding up its old ones.

According to the statement, the local government anticipates that this port, which is around 105 miles from the state capital of Kolkata, will generate over 100,000 indirect jobs in addition to 25,000 direct jobs.

Last Monday, an agreement for the upgrading of a berth at the Haldia port in West Bengal was inked by a wholly-owned subsidiary of Adani Ports.

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