Adani Ports and Special Economic Zone Ltd. on Thursday said its wholly-owned subsidiary HDC Bulk Terminal Ltd. has signed a concession agreement with Syama Prasad Mookerjee Port, Kolkata for the mechanisation of a berth at Haldia Port.
The company in a statement said the estimated cost of the project is Rs 298 crore. APSEZ was picked as a successful bidder by SMPK earlier in February.
APSEZ CEO and Whole Time Director Karan Adani said that the mechanisation and upgradation of Haldia Bulk Terminal provides the opportunity to firmly establish APSEZ's footprint in Bengal.
According to the statement, a special purpose vehicle will be formed to implement the project and it will get the rights to design, build, finance, operate, maintain and manage the bulk terminal with a capacity of 3.74 million tons per annum for a concession period of 30 years.
The Haldia Dock Complex houses various bulk handling facilities at Haldia under SMPK's purview.
Haldia Dock Complex caters to a large hinterland including Bengal, Bihar, Uttar Pradesh, Jharkhand, Assam, Northeastern hill states and the landlocked neighbouring country of Nepal.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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