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APSEZ in race to build port at Bhavanapadu

Date 01-Dec-2015
Subject APSEZ in race to build port at Bhavanapadu

VISAKHAPATNAM : Adani Ports & SEZ Ltd, part of $9.4 billion conglomerate with operations in coal trading, mining, oil and gas exploration, power generation and logistics, is keen on expanding its presence on the East Coast, with growing thrust on ‘Look East’ policy.

After acquiring Dhamra Port in Odisha and deciding to take over Katupalli Port near Chennai, Adani Group has emerged as a strong contender for Greenfield Port coming up at Bhavanapadu in neighbouring Srikakulam district.

Adani, which is on acquisition spree after setting its target to increase cargo handling volume from 127 million tonne in 2013-14 to 200 million tonne by 2020, has submitted the Request for Qualification (RFQ) last month along with Gangavaram Port, Navayuga, Kakinada Port and UTL Technologies.

Incidentally, 15 firms bought the bid documents and among them 10 submitted RFQ documents.

The technical committee has declared five firms qualified. “Now the evaluation process is on for awarding the Rs.3,500-crore Greenfield Port project,” an official of Infrastructure Corporation of AP (INCAP), the nodal agency for the project, has said.

As per techno-economic feasibility report prepared by Indian Ports Association, Bhavanapadu will have five berths in the first phase and later construction of eight in phase two and 14 in phase three will be taken up. In all, the port will have 27 berths depending on the cargo demand.

Adani Port, India’s largest private port operator, has plans to develop a Container terminal at Ennore Port, the first major port to be registered under the Companies Act.

The Adani Group has floated Adani Vizag Coal Terminal Ltd to develop and operate a Greenfield coal terminal with a capacity of five million tonne per annum by investing Rs. 400 crore. The terminal is in operation for past two years.

The denial by the management of Gangavaram Port notwithstanding, now and then there has been buzz in the industry that Adani Group is in negotiation to acquire the port.

A consortium, led by D.V.S. Raju, has a majority stake in the port developed in PPP mode following a concession agreement with the State Government in August, 2003. While the consortium has 58.11 per cent shareholding, Warburg Pincus and Government of AP have 31.5 and 10.39 per cent share respectively.

Source : dailyshippingtimes.com

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