Chennai: Adani Ports and Special Economic Zone on Monday said that its subsidiary, Adani Kandla Bulk Terminal Pvt Ltd, has signed a concession agreement with the Kandla Port Trust to set up a dry bulk terminal at the Kandla port on build, operate, transfer basis.
The project, estimated to cost Rs 1,200 crore, is expected to be completed in 24 months.
The terminal will have a capacity to handle 20 million tonnes of cargo. This will be a modern and mechanised cargo bulk terminal and will act as a “gamechanger for EXIM trade of the Northwest hinterland”.
Location
The significance of the project is its location - it will be located off Tekra near Tuna outside the Kandla creek. The Tuna port is owned by the Kandla Port Trust. It is learnt that Adani will construct four T-shaped jetties near Tuna outer buoy, where the draft (depth) is 14 metres.
Now, large ships can anchor directly at Tuna rather than have to transfer cargo on to barges and float the barges down to the Kandla port. Berthing at Tuna also cuts the distance to the hinterland.
Sources said the plan also includes a container terminal and a special economic zone between Kandla and Tuna.
Adani Ports has “thus emerged the only private sector port operator with presence across six ports in India,” the company has said in a notification to the stock exchanges.
It is now the only private port infrastructure company to operate and construct ports and terminals across six locations in India – Mundra, Dahej, Hazira and Kandla in Gujarat, Mormugao in Goa and Visakhapatnam.
The terminal at Kandla will handle cargo such as coal, fertiliser, salt, minerals and agro products.
Adani Ports aims to reach 200 million tonnes of handling capacity by 2020.
"In 2011-12, Adani Ports achieved a turnover of Rs 2,482 crore on which it made a net profit of Rs 1,177 crore, (or 48 per cent of turnover). Each share earned Rs 5.88."
On the BSE, the share of Adani Ports and Special Economic Zone Ltd (of face value of Rs 2) is being traded at around Rs 122.60.
