Ports Current Affairs - 2019

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PM lays foundation stone of 4th terminal of Jawaharlal Nehru Port Trust in Mumbai

Prime Minister Narendra Modi has laid the foundation stone of fourth terminal of country’s largest container port – Jawaharlal Nehru Port Trust (JNPT) in Mumbai.

The ambitious project will augment JNPT’s present capacity situated off the financial capital’s eastern seafront by doubling it in next two years.

Key facts

  • The fourth terminal project will be carried out in two phases at estimated cost of 7,900 crore rupees and will be complete by the end of 2017.
  • The project involves construction of two berths of 1 km in each of the two phases.
  • It will be executed by Bharat Mumbai Container Terminal (BMCT), a subsidiary of Port of Singapore on a design, fund, built, operate and transfer (BOT) basis.
  • The terminal will play important role in India’s Export-Import (exim) trade by doubling existing 4.5 million container handling capacity of JNPT to 10 million standard units.

The expansion of port seeks to make it in top 15 ports of the world as it is presently ranked 31st.

At present, JNPT operates one of the three terminals at the port while the other two are operated by DP World and APM Terminals.

Month: Categories: Business, Economy & Banking

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Adani Ports inks MoU with L&T for Kattupalli Port Operations

Adani Ports and Special Economic Zone (APSEZ) has inked a Memorandum of Understanding (MoU) with Larsen & Toubro (L&T) to oversee operations of Kattupalli Port in Tamil Nadu.

The non-binding MoU will empower L&T Shipbuilding to manage and operate the port with an effect from October 2015.

Under this pact APSEZ will be responsible for EBIDTA gains and losses arising from the port operation for this period.

APSEZ is part of the Adani group led by Gautum Adani is one of India’s leading business houses with a revenue of over 10 billion dollars.

Presently the subsidiary company operates ports in Mundra, Tuna-Tekra (Kandla), Hazira and Dahej in Gujarat. It also operates, Dhamra in Odisha and specialised coal handling facilities in Mormugao in Goa and Visakhapatnam in Andhra Pradesh.

Earlier in June 2015, APSEZ received Kerala government’s nod for developing the 4,089-crore rupees Vizhinjam International Deepwater Seaport project with 4-year timeframe for commissioning.

Vizhinjam port port is strategically located very close to international shipping route and has the potential to become the biggest trans-shipment hub in the region. It will help in cost saving to Indian trade as the boxes can be trans-shipped at a lower cost.

Month: Categories: Business, Economy & Banking

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