07-06-2016

India: Dhamra port cargo down 5% in FY16

DhamraPort

Adani Group controlled Dhamra Port Company Limited (DPCL) off the coast of north Odisha recorded 4.8 per cent de-growth in its cargo volume in last financial year as exports shrank and import traffic stagnated.

The port handled a total traffic of 14.66 million tonne (mt) in last financial year as against 15.4 mt logged in FY15. The overall traffic consisted of 13.9 mt of imports and the rest exports. Dhamra port handled 187 vessels during the last financial year.

Since, iron ore exports from Odisha have trickled to negligible level, the Dhamra port has been struggling to operate at its full rated capacity of 25 mt. Imports of limestone and coal have been the key drivers to the port's traffic.

Dhamra port has now firmed up plans to expand its cargo handling capacity and diversify to liquid cargo and containers to cut down on its dependence on export traffic. The port promoters intend to invest Rs 10,000 crore on the second phase expansion that will see its cargo throughput capacity expanding four fold to 100 mt per annum.

"The port authorities have been given advance possession of over 700 acres of land for their expansion", said an official source.

After the expansion, the port will be capable of handling clean cargo, containers, liquid cargo, LNG, containerized cargo and crude oil. Though DPCL had readied its second phase expansion plan, getting land was the key hurdle to go ahead in its plan.

Currently, the port is equipped with two fully mechanised berths with a combined cargo handling capacity of 25 mtpa. The two berths are capable of handling 12 million tonne of imported dry bulk cargo and 13 million tonne of cargo for exports. The port commenced commercial operations in May 2011.

The port had recorded eight per cent growth in cargo in 2014-15. Total cargo handled by the port inclusive of import and export traffic, stood at 15.45 million tonne (mnt) by the end of 2014-15 compared to 14.31 mnt logged in the year ago fiscal.

In May 2015, Adani Ports & Special Economic Zone (APSEZ), part of the Adani Group, had acquired DPCL for Rs 5,500 crore.

Prior to the acquisition, DPCL was run as a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects Ltd. In one of the biggest port sector deals in recent years, APSEZ has gained a foothold in the eastern sector through acquisition of the Dhamra port.

Source: Business Standard 

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