Page 24 - ITLN September - October 2023 for Magzter

News

DP World to invest $510mn to develop

Tuna-Tekra container terminal

P World signed a concession container terminal to Hindustan
Dagreement with the Infralog - a joint venture
Deendayal Port Authority to between DP World and National
develop, operate and maintain a Investment and Infrastructure
new 2.19 million TEU per annum Fund, a collaborative investment
mega-container terminal at platform anchored by the central
Kandla in Gujarat. government. The concession is on
The project involves the a Build-Operate-Transfer (BOT)
construction of a mega-container basis for a period of 30 years with
terminal at Tuna-Tekra near the option to extend for another
the existing Deendayal Port at a 20 years.
cost of approximately `4,243.64 Once complete in 2027, the 2.19
crore ($510 million) through a million TEU per year terminal will
public-private partnership (PPP). have state-of-the-art equipment
The Deendayal Port Authority and a 1,100m berth capable of
awarded the concession in handling next-generation vessels
January to develop the mega- carrying more than 18,000 TEUs.

Adani Ports Q1FY24

net profit up 80%

dani Ports and Special Economic Zone
A(APSEZ) reported a 24 percent increase
in revenue `6,248 crore on
a 12 percent increase
in cargo handled at
101.4 million tonnes
during the first
quarter of the
financial year
2023-24.
Net profit for JNPA berths coastal ship with TATA
the first quarter Steel's 22,000 MT cargo from Odisha
of FY2024
increased 80 awaharlal Nehru Port is a significant milestone in
percent to `2,199 JAuthority (JNPA) received promoting coastal shipping,”
crore from `1,177 the coastal steel cargo ship, reads the JNPA release.
crore in Q1FY2023. M.V VTRE, carrying 22,000 JNPA has entered into a
"APSEZ delivered MT of cold rolled steel coils 30-year concession agreement
its strongest ever quarterly of TATA Steel from Paradip in with Nhava Sheva Distribution
operating performance during Q1FY24, with Odisha destined for industries Terminal to develop and operate
highest ever quarterly cargo volumes, revenue, in Maharashtra and Gujarat both Shallow Water Berth (SWB)
EBITDA and around 200 bps jump in domestic at the shallow water berth on and Coastal Berth (CB) in May
market share despite over 50 percent of the August 17, 2023. 2023. Sanjay Sethi, chairman,
company’s total port capacity being adversely “This new initiative JNPA has stated that this is a
impacted for around six days due to the cyclone achieved by the new PPP new beginning for the coastal
Biporjoy," says Karan Adani, CEO and whole- Operator, Nhava Sheva movement of domestic cargo
time director, APSEZ. Distribution Terminal (NSDT) from eastern ports in India to
(owned by J.M. Baxi group) western ports through sea.
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