APSEZ subsidiary signs deal to upgrade Haldia Bulk terminal
The agreement is in continuation to the selection of APSEZ as a successful bidder by SMPK earlier in February. As per the agreement, HBTL will undertake the financial closure for the project within six months and commence the construction of the terminal. The estimated cost of the project is Rs 298 crore.
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“The mechanisation and upgradation of Haldia Bulk Terminal provides us the opportunity to firmly establish APSEZ’s footprint in Bengal," said Karan Adani, CEO and Whole-Time Director of APSEZ.
The HDC Bulk Terminal Ltd (HBTL), a wholly owned subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ), signed a Concession Agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for mechanisation of berth number two at Haldia Port, stated an official release.
“The mechanisation and upgradation of Haldia Bulk Terminal provides us the opportunity to firmly establish APSEZ’s footprint in Bengal,” said Karan Adani, CEO and Whole-Time Director of APSEZ.
As per the Concession Agreement, the Special Purpose Vehicle (SPV) formed to implement the project will get the rights to design, build, finance, operate, maintain and manage the bulk terminal with a capacity of 3.74 million tonnes per annum for a concession period of 30 years at Haldia Dock Complex that houses various bulk handling facilities at Haldia under SMPK’s purview. Haldia Dock Complex caters to a large hinterland, including Bengal, Bihar, Uttar Pradesh, Jharkhand, Assam, Northeastern Hill states and the landlocked neighbouring country of Nepal. This terminal will handle the supply chain of raw materials in the steel plants, power plants and cement plants located in the hinterland.
The agreement is in continuation to the selection of APSEZ as a successful bidder by SMPK earlier in February. As per the agreement, HBTL will undertake the financial closure for the project within six months and commence the construction of the terminal. The estimated cost of the project is Rs 298 crore. The project has already received the necessary environment clearance.
The key USP of this project is the ability to provide bulk cargo handling services, which would be completely mechanised, highly efficient, environment-friendly and pollution-free.The project will not only add efficient port capacity but will also help to reduce the logistics costs of port users by reducing the turnaround time of vessels calling at Haldia Dock, the release added.
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