Adani Ports gets O&M contract for Kolkata port

7 Jun 2024 , 11:35 AM

Adani Ports and Special Economic Zone Ltd. (APSEZ)  has obtained the letter of intent (LOI) for the operation and maintenance (O&M) of the container facility at the Syama Prasad Mookerjee Port in Kolkata.

The Adani Group company has bagged a five-year O&M contract after a competitive bidding process.

The successful bidder will deploy cargo handling equipment within seven months of receiving the letter of acceptance (LOA), according to the company’s stock exchange filing.

For the Indo-Bangladesh Protocol on Inland Water Transit and Trade route, Kolkata port has been nominated. Netaji Subhas Dock receives regular liner service calls from Singapore’s hub ports, Port Kelang and Colombo.

“The existence of APSEZ at the port may improve linkage between the terminal and its container ports, specifically with the transshipment hubs at Vizhinjam and Colombo that are under consideration for commissioning during the year,” it said.

Netaji Subhas Dock is being promoted as India’s largest container terminal on the country’s east coast. It handled around 0.63 million TEUs in FY2023-24, serving a broad hinterland that included West Bengal, Bihar, Assam, Uttar Pradesh, Jharkhand, the northeastern hill states, and the landlocked adjacent countries of Nepal and Bhutan.

Ashwani Gupta, Whole-Time Director and CEO of APSEZ, stated that the company will bring its experience of over two decades of efficiently managing various container terminals within India and outside, helping customers and the people of the state.

At around 11.01 AM, Adani Ports was trading 1.53% higher at ₹1,373.70 per piece, against the previous close of ₹1,352.95 on NSE. The counter touched an intraday high and low of ₹1,381.45, and ₹1,355.05, respectively.

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