Adani Ports and Special Economic Zone Limited (APSEZ), India’s leading port developer and operator, has secured the letter of intent (LOI) for the operation and maintenance (O&M) of the container facility at Netaji Subhas Dock, Syama Prasad Mookerjee Port in Kolkata. APSEZ was awarded the five-year O&M contract through a competitive bidding process. As part of the agreement, the company must deploy cargo handling equipment within seven months from the date of the letter of acceptance (LOA).
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Netaji Subhas Dock, the largest container terminal on India’s eastern coast, handled approximately 0.63 million TEUs in the fiscal year 2023-24. The dock serves a vast hinterland that includes West Bengal, Bihar, Uttar Pradesh, Jharkhand, Assam, the northeastern hill states, and the landlocked neighbouring countries of Nepal and Bhutan.
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Kolkata port is designated for the Indo-Bangladesh Protocol on Inland Water Transit and Trade route. The dock benefits from regular liner service calls from major hub ports such as Singapore, Port Kelang, and Colombo. The involvement of APSEZ at the dock is expected to enhance connectivity between the terminal and its other container ports, particularly with the transshipment hubs at Vizhinjam and Colombo, which are anticipated to commence operations this year. This development is likely to bolster trade efficiency and regional connectivity.
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On this development, Mr. Ashwani Gupta, Whole-Time Director and CEO, APSEZ, said, “The award of the O&M contract for container handling facilities at Netaji Subhas Dock to APSEZ underlines our commitment to develop ports and logistics infrastructure across the country and the potential we see in West Bengal. We will bring our experience of over two decades of efficiently managing various container terminals within India and outside, benefiting customers and the people of the state.”
On Friday, the shares of Adani Ports closed at Rs 1,378, 1.85 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 1,621.40 and Rs 703 respectively.
