Adani Ports signs agreement with SPMK to enhance Haldia Dock's capacity

HDC Bulk Terminal Ltd (HBTL), a wholly owned subsidiary of Adani Ports and Special Economic Zone Limited (APSEZ), has signed the concession agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK) for mechanisation of berth no. 2 at Haldia Port. APSEZ was selected as a successful bidder by SMPK earlier in February. 

The agreement signed today marks APSEZ’s first project in West Bengal.  “The mechanization and upgradation of Haldia Bulk Terminal provides us the opportunity to firmly establish APSEZ’s footprint in Bengal," said Karan Adani, CEO and Whole Time Director of APSEZ, in a statement. 

“We remain committed to further accelerating the ever-growing industry and economy of Bengal. With this fully mechanized facility, we aim to set a higher benchmark in port operations and environmental practices,” Adani added.

“This terminal, alongside our existing world class ports and terminals along the east coast of India, will synergize APSEZ’s services and enhance customer experience. Our leadership in integrated logistics will significantly enhance HBTL’s efficiency and benefit the shipping industry,” he further said. 

Earlier in the year, APSEZ had emerged as H1 bidder for the Bengal government’s proposed greenfield port at Tajpur in Purba (East) Medinipur. But the state is yet to formally announce it.

As per the Concession Agreement signed between SMPK and HBTL, the special purpose vehicle (SPV) formed to implement the project 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 at Haldia Dock Complex, Haldia.   

SMPK said in a statement that the project would help increase the cargo handling capacity and also fast evacuation of cargo at Haldia Port.

“The cargo will be handled in environment friendly manner and shall lower the cost of handling by port users at Haldia,” it said. It would lead to direct and indirect employment opportunities with revenue generation of Rs 22.5 crore per annum for Haldia Dock Complex, SMP, Kolkata.

As per the signed Concession Agreement, HBTL would undertake the financial closure for the project within six months and commence construction of the terminal.  The estimated cost of the project is Rs 298 Crore and it has already received the necessary environment clearance.