Adani Ports and Special Economic Zone Ltd. has won a contract to operate and maintain a container terminal at Kolkata Port. The company was granted a letter of intent after it won the five-year contract through a competitive bidding process and will deploy cargo handling equipment within seven months from the date of the letter of acceptance, according to an exchange filing on Friday.
Under this contract, the Adani Group company is responsible for the deployment, operation, and maintenance of equipment for container handling operations at the Netaji Subhas Dock at the Syama Prasad Mookerjee Port in Kolkata.
The dock is the largest container terminal on the eastern coast, handling approximately 0.63 million twenty-foot equivalent units in fiscal 2024. This O&M contract will aid Adani Ports in driving synergies with its transhipment hubs at Colombo and Vizhinjam, the filing said.
The company will bring the experience of over two decades of efficiently managing various container terminals within India and outside, benefiting customers and the people of the state, according to Ashwani Gupta, whole-time director and chief executive officer, Adani Ports. "This contract underlines the company's commitment to develop ports and logistics infrastructure across the country and West Bengal's potential."
The Kolkata port is the nominated port for the Indo-Bangladesh Protocol on Inland Water Transit and Trade Routes. Netaji Subhas Dock has regular liner service calls from the hub ports of Singapore, Port Kelang, and Colombo.
Adani Ports reported a 28% rise in its operating revenue to Rs 26,711 crore in the financial year 2024. Growth was reported across all three major cargo categories, with dry bulk cargo growing at 29%, container cargo at 20%, and liquid and gas cargo at 15%, according to an investor presentation.
It achieved a cargo volume of 42.81 million metric tonnes in fiscal 2024, marking a 37% increase from 31.28 MMT in the previous year. The company has projected a revenue of Rs 50,000 crore by fiscal 2029.
The company operates 13 ports and terminals across the country, including Mundra Port in Gujarat, Dhamra Port in Odisha, and Vizhinjam Port in Kerala.
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