Adani Ports seeks nod from Maharashtra authorities to depend Dighi port concession interval afresh, Infra Information, ET Infra

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A proposal by Adani Ports and Particular Financial Zone Ltd (APSEZ) to depend the 50-year concession interval for Dighi port from 2021 – when it acquired the port beneath India’s chapter legislation – and never from 2002 when the unique concession settlement was signed, will likely be handled within the new port coverage of Maharashtra authorities, a high official has stated.

“It’s a coverage resolution,” stated Dr Amit Saini, Chief Govt Officer, Maharashtra Maritime Board, the State authorities company tasked with overseeing Maharashtra’s maritime sector. “We’re framing our new port coverage and any requests for altering the concession interval and different issues will likely be addressed within the new coverage,” Saini informed ET Infra.

In February 2021, APSEZ acquired Dighi Port Ltd beneath the Insolvency and Chapter Code (IBC) for Rs 705 crore and stated on the time it deliberate to take a position some Rs 10,000 crore to develop Dighi port into an alternate gateway to Jawaharlal Nehru Port, positioned a couple of kilometres away.

A port marketing consultant stated that APSEZ’s plan to take a position Rs10,000 crore for scaling up Dighi would require an extended payback interval and therefore justifies the agency’s proposal to depend the 50-year concession awarded in 2002 afresh.

The contract interval for Dighi port runs by means of 2052, per the unique concession awarded to Balaji Infra Initiatives Ltd. This may indicate a steadiness concession interval of 30 years.

APSEZ has submitted a revised grasp plan for Dighi port to the Maharashtra Maritime Board that seeks to construct a cargo dealing with capability of as a lot as 350 million tonnes (mt) over the course of the 50-year concession, Karan Adani, Chief government Officer, APSEZ, stated throughout an analysts name after the acquisition was accomplished.

Dighi port presently has a capability to deal with 30 mt of cargo from two multi-purpose berths that may load coal, bauxite and metal coils.

The deliberate Rs10,000 crore funding will likely be aimed toward creating Dighi right into a multi-cargo port with fashionable infrastructure in addition to constructing rail and highway connectivity for seamless and environment friendly cargo motion.

APSEZ additionally plans to strengthen and restore current infrastructure and spend money on the event of services for dry, container, and liquid cargo.

The acquisition of Dighi port helped APSEZ enter Maharashtra, one of many two coastal States the place it didn’t have a presence. With Dighi, APSEZ has a portfolio of 12 ports and terminals throughout India’s Japanese and Western coasts.

APSEZ didn’t reply to a mail looking for remark.

Maharashtra Maritime Board has referred to as bids to rent a marketing consultant for upgrading the State’s maritime growth coverage that was finalised in 2016.

“We’re engaged on a brand new port coverage which might deal with all the problems within the outdated coverage and particularly on extension of the concession,” stated Captain Sanjay Sharma, Chief Port Officer, Maharashtra Maritime Board.

Source: Tech Algorithm

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