Adani completes acquisition of Dhamra Port in
Odisha
24/06/2014 14:58
Adani Ports and Special Economic Zone (APSEZ) today said it has completed the acquisition of Dhamra Port in Odisha from Tata Steel and L&T Infrastructure Development Projects (L&T IDPL). "APSEZ has completed the acquisition of 100 per cent stake in the Dhamra Port Company Limited from L&TIDPL and Tata Steel," the company said in a filing to the Bombay Stock Exchange. An equal joint venture between L&T IDPL and Tata Steel, Dhamra Port Company Ltd (DPCL) was commissioned in May 2011 with an 18-km approach channel and a dedicated 62.7 km rail link to Bhadrak. The concession period may be extended by two additional terms of 10 years each. The first phase construction, at an investment of Rs 3,200 crore, started in March 2007. Following the acquisition, the second phase of development will be initiated within 90 days and completion targeted in 30 months, Adani Ports has said. "The expansion will allow the Dhamra port to exceed 100 million tonnes of cargo capacity by the year 2020 and therefore allow Adani Ports to fulfil its stated vision of becoming a 200 million tonne ports business well before the year 2020," it has said.
24/06/2014 14:58
Adani Ports and Special Economic Zone (APSEZ) today said it has completed the acquisition of Dhamra Port in Odisha from Tata Steel and L&T Infrastructure Development Projects (L&T IDPL). "APSEZ has completed the acquisition of 100 per cent stake in the Dhamra Port Company Limited from L&TIDPL and Tata Steel," the company said in a filing to the Bombay Stock Exchange. An equal joint venture between L&T IDPL and Tata Steel, Dhamra Port Company Ltd (DPCL) was commissioned in May 2011 with an 18-km approach channel and a dedicated 62.7 km rail link to Bhadrak. The concession period may be extended by two additional terms of 10 years each. The first phase construction, at an investment of Rs 3,200 crore, started in March 2007. Following the acquisition, the second phase of development will be initiated within 90 days and completion targeted in 30 months, Adani Ports has said. "The expansion will allow the Dhamra port to exceed 100 million tonnes of cargo capacity by the year 2020 and therefore allow Adani Ports to fulfil its stated vision of becoming a 200 million tonne ports business well before the year 2020," it has said.
