India: Adani Ports’ Growth Story Resumes
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player, announced it had received the letter of intent from the Kandla Port Trust, a Government of India body, to set up a dry bulk terminal at the Kandla Port on build, operate and transfer basis.
The company has emerged as the highest bidder on revenue share basis and has been awarded the concession in a highly competitive bidding scenario. The dry bulk terminal will off Tekra near Tuna outside Kandla Creek at the Kandla port which is India’s number one port by volumes. The Construction of the new bulk terminal will begin after signing of the concession agreement with the Kandla Port Trust.
“We are extremely pleased to partner the Government of India and the Kandla Port Trust and would like to thank them for their faith and confidence in the Adam Group’s execution and operating capabilities for setting up world class ports. The Kandla Port’s strategic location will be an important factor in attracting cargo from the north-west hinterland and will assist Adani Ports to cross cargo handling volumes of 200 million tonnes by 2020.” said Rajeeva Sinha, Wholetime director APSEZ.
Creation of world class port infrastructure is part of the Adani Group’s business ethos and has identified APSEZ as its growth driver for its Logisitcs business which includes a large network of ports, special economic zones and multi-modal logistics such as railways.
Adani Ports is now the only private port infrastructure company to operate and construct pots and terminals across six locations in India – Mundra. Dahej and Hazlra in Gujarat. Marmugao in Goa and Visakhapatinam where it has recently begun construction of a coal import terminal. The Mundra port is the fourth largest commercial and top most private port in India.
The Adani Group had last week announced that it will now focus on three clusters of its businesses namely – resources, logistics and energy. All of these clusters are confident of emulating the group’s leadership philosophy of utilising cutting-edge Innovation and Technology for Growth and Expansion.
Dredging Today Staff, February 29, 2012