Gujarat Chemical Port Terminal Co Ltd (GCPTCL) has achieved another landmark by executing the port and terminal concession agreement with Gujarat Maritime Board (GMB) and the state government. The signing ceremony for executing the concession agreement between GCPTCL and GMB took place on July 30, in presence of minister of ports and petrochemicals Bavkubhai Undhad.
The minister, commenting on the concession agreement said, "The agreement between GCPTCL and GMB is in keeping with the build, own, operate and transfer (BOOT) policy of the state government which has helped bring in infrastructure development of international standards at the port. With the commissioning of the chemical port, the chemical and petroleum industry of the neighbouring states such as Maharashtra, Rajasthan, Delhi, Haryana and Punjab will also stand to benefit besides Gujarat."
Moreover, GCPTCL, a commercial port exclusively dedicated to handling liquid and gaseous chemical products and oil in Dahej region, which is fast shaping up as a future hub for storage and handling of chemicals, shall veritably boost the overall transformation of the region.
"The concession agreement shall benefit GCPTCL by virtue of getting the status of infrastructure project on BOOT basis under the ports development policy of the state government. It will also enable GCPTCL to get a tax-free income status for ten years and also benefits such as certain loan concessions which shall be for a period of 30 years," said a spokesperson of the company.
The state-of-the-art port can berth vessels of the size of 60,000 dead weight tonnage (DWT), while the terminal has a storage capacity of more than 3 lakh cubic metres, which is being extended further by offering the available land to interested parties on sub-concessional basis.
