APSEZ to commission coal terminal at Mormugao Port this fiscal
Adani Ports and SEZ Ltd (APSEZ) is planning to commission a Coal Handling Terminal of about 5 million tonnes capacity at the Mormugao Port in Goa by this fiscal.
New Delhi: Adani Ports and SEZ Ltd (APSEZ) is planning to commission a Coal Handling Terminal of about 5 million tonnes capacity at the Mormugao Port in Goa by this fiscal.
The coal handling terminal project, won by the Adani group firm in 2009, is delayed by about 2 years as it was originally planned to be commissioned during 2011-12 itself. APSEZ has the permission to operate the coal handling berth till May 15, 2040.
"We are developing and by the fiscal year 2014, plan to commence operations of a coal handling terminal with one berth at the Mormugao Port, where we plan to provide port services," the company said in a prospectus for a recently completed fund raising exercise.
The fund raising of about Rs 1,000 crore was completed by the company early this month by placing about 2.5 percent shares to institutional investors.
The Coal Handling Terminal project is part of expanding the capacity of the Mormugao Port in Goa on account of growing demand of coal in the region.
During the last fiscal, coal and coke imports at the Mormugao Port increased by over 8 percent at 7.79 million tonnes (MT) though the Port had witnessed a steep decline of about 55 percent in its overall cargo traffic at 17.69 MT.
The coal handling terminal project is coming up at the existing Berth No 7 at an estimated investment of Rs 400 crore and is being developed through the public-private partnership (PPP) route.
The Terminal will have the capacity of handling minimum 4.61 MT per annum of coal and it will have a new coal handling berth of about 300 meters along with mechanised handling and back-up facilities. Its capacity can get expanded to 10 MTPA, depending upon the demand in future.
Development of the coal handling terminal project at the Mormugao port is part of Adani Ports' plans to have a pan India presence. Last year, the Adani group firm had handled a total cargo of 91 million tonnes, registering a growth of 40 percent.
The company currently operates 12 terminals with 31 berths at the Mundra Port, the Dahej Port and the Hazira Port. Besides, it is also developing dry bulk terminals at Vizag and Kandla Ports.