Adanis, Malaysian firm sign port upgrade alliance

"Ports are generally not given much importance though they facilitate most of the imports and exports. However, it is not the case of Gujarat, which has 41 ports. The state accounts for 82 per cent of the business carried out by minor ports of the country," said D T Joseph, secretary, Union ministry of shipping.

Kamal Baharuch, managing director of Gujarat Power Corporation Ltd (GPCL), said "Gujarat has 5,560 kms of coastline, which accounts for one-third of the Indian coastline. "Gujarat accounts for 84 per cent of the total cargo handled by the minor ports in India. The Gujarat Maritime Board has posted a cumulative growth of 281.26 per cent in the last five years."

Describing Gujarat ports as the best in the world, Baharuch said out of the USD 962 million revenue generated by the country's minor ports, Gujarat's contribution is USD 913 million. Gujarat accounts for 65 per cent of the container market in India which is growing at the rate of 14 per cent, he said.

Chief minister Narendra Modi, various ministers, top officials, NRIs and foreign investors were present at the MoU signing function.

The Adani group plans to develop a commercial, multi-purpose terminal at Dahej, in Gujarat's Bhrauch district. This will be close to the existing state-of-the art chemical port of the Gujarat Chemical Port Terminal Company.

Also on the cards is an industrial park to be developed by the Gujarat Industrial Development Corporation.

The Adani group was awarded the letter of intent (LoI) by Petronet LNG Ltd on August 27. It plans to set up a special purpose vehicle at the site, with Petronet LNG having 26 per cent equity and the rest held by the Adani group and its strategic partners.