Adanis' Ennore bid next month

The Ahmedabad-based Adani Exports Ltd will submit its final bid to develop two terminals at the Ennore Port next month.

Three companies, including Adani Exports, have qualified for final bidding to develop an iron ore terminal and a coal terminal at India's first corporatised port near Chennai.

Adani Exports is part of the Rs 11,000 crore multi-diversified Adani Group.

"With the success of the Mundra Port, we are exploring opportunities outside Gujarat. We will submit an aggressive bid price for the terminals. At present we are working on the final bid price," said Sanjay Gupta, chief executive officer, Adani Group.

"The estimated cost of developing the iron ore and coal terminals together will be ranging between Rs 300 crore and Rs 600 crore. If the back-up facility handling is also included, the Adani Group will need to investment another Rs 100-200 crore. The group may also create a separate entity to handle these two projects or may manage it through Gujarat Adani Port Ltd which runs the Mundra port," said a source.

The Mundra Port is India's first private sector port and has been running successfully since its inception in January 2000.

However, the IMC Group-Larsen & Toubro (L&T) combine is expected to bag the mandate to develop a liquid cargo terminal at the port.

Ennore Port had invited express of interests from private companies to develop a multi-purpose berth-cum-container terminal to handle containers, cars, unit loads, heavy lifts and other similar items of cargo under a 30-year long build-operate-transfer licence.

"The liquid terminal is not our specialisation as we are handling huge amount of various cargoes at the Mundra Port. We have been eyeing this project as Ennore Port will be India's first corporatised port and it has locational advantages also," said Gupta.

The project would entail design, finance, construction and operation of the terminals with all ancillary facilities for receipt, storage and dispatch of cargo.

Sources said the IMC-L&T combine may be finally handed over the liquid terminal project at the port by end of this month.

The liquid terminal will have a capacity of three million tonne a year. The estimated cost of the terminal is around Rs 250 crore.

Meanwhile, the Adani Group has taken up an expansion plan for the Mundra port.

The company had recently kicked off work at its special economic zone (SEZ) in Mundra.

The group is expected to invest Rs 7,000 crore in the special economic zone in the next 10 years.

The group is working on various options to fund its projects at the Mundra port.