Adani wins Rs 1,060 crore KPT terminal project bid

The Adani Port and Special Economic Zone has won the bid to construct a Rs 1,060 crore dry bulk terminal at Tuna which is being developed as a satellite port of Kandla in the Gulf of Kutch in Gujarat

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The Adani Port and Special Economic Zone (APSEZ) has won the bid to construct a Rs 1,060 crore dry bulk terminal at Tuna which is being developed as a satellite port of Kandla in the Gulf of Kutch in Gujarat.

The terminal having a cargo handling capacity of 14.11 million tonnes per annum (MTPA) was decided to be awarded to APSEZ after the board of trustees of the Kandla port the countrys biggest port decided unanimously to award the PPP (public-private-partnership) project to the highest bidder APSEZ. The decision was taken in the meeting of Kandla Port Trust (KPT) board held on Tuesday.

They (the board) have also taken note of the assurance given by the promoter,Gautam Adani to complete the project in time, stated an official statement from KPT. The board has also imposed certain conditions to monitor the project with six monthly milestones. Ironically,over the years APSEZ,which operates a private port in Mundra in the same Gulf,has been targeting to overtake Kandla as the top cargo handler of the country by handling 100 million tonne of cargo by 2013. On the other hand,KPT itself is in the process of building four multi-purpose cargo berths to help it cross 100 million tonne of cargo by 2012-13.

The concession agreement will be as part of the model documents followed by all major ports for similar projects with stringent conditions to take care of any delays by the concessionaire, KPT official said in the statement.

Apart from the dry bulk terminal at Tuna,KPT is also setting up a single point mooring (SPM) and allied facilities off Veera in Gulf of Kutch (project cost Rs 621 crore).