Petronet, Adani Group in JV for solid cargo port

Petronet LNG (PLL), India's largest liquefied natural gas (LNG) importer, today formed a joint venture (JV) with Gujarat-based Adani Group for setting up a solid cargo port in Dahej SEZ in Gujarat.

Adani Petronet (Dahej) will be the 50:50 JV firm of PLL and Adani Group for the implementation of the project.

"The two phase project is likely to cost around Rs 1150 crore in a debt  to equity ratio of 70:30. The project is likely to be completed within 36 months," according to an official release issued today.

The solid cargo port would have the facilities to import/export coal, steel, fertilizer, etc.  Phase I off the project would feature 1 berth and the 2nd phase would have 2 additional berths with full mechanization of the port.
Land for the project has already been identified in the Dahej SEZ next to PLL's LNG terminal.

The financial closure for the project is targeted to be achieved by the end of this year.