Adani Petronet Jv to commence Dahej project by June

Adani Petronet Port Pvt Ltd, a 50:50 joint venture between Ahmedabad based Adani group and Petronet LNG, is all set to roll out the first phase of its solid cargo port terminal at Dahej by June this year. Besides, Adani group's Mundra Port and SEZ Ltd (MPSEZ) is aiming to commission its coal terminal at Mundra, said government sources close to the development.

The work for the first phase involves an investment of Rs 550 crore and setting up a 26 metre long jetty with a 15 meter water depth.

The overall project cost is estimated to be about Rs 1,150 crore. With provide common user port facilities, Adani Petronet Port will facilitate to accomodate 80,000 Dead Weight Tonne (DWT).

Meanwhile, work is also in full swing at Adani's Mundra project where the company is setting up a jetty with a cargo handling capacity of 5 million metric tonnes per annum (MMTPA). The coal terminal project is as per the Gujarat government's extension of Build Own Operate Transfer (BOOT) of concession agreement of Mundra port and extension of port limit in 2008, said government sources.

The construction work for the first berth of 360 metre jetty has been constructed for a cost of Rs 800 crore, sources said.

When contacted a senior spokesperson of Adani group said that both the projects are likely to be commissioned by end of first quarter this fiscal.

The total coal handling capacity at Mundra is envisaged to be about 30 million tonnes which could be ramped up even further, said government sources privy to the development.

The 1460 meter long coal terminal will service to Tata Power's 4,000 MW ultra mega power project (UMPP) and Adani Power Project's 4600 MW project, both of which are coming up in Mundra.

Adani Enterprises Ltd, the flagship company Adani group, is in the process of raising about Rs 5,500 crore through a rights issue as well as qualified institutional placements (QIP), the proceeds of which will go towards repayment of loans and strengthening the company’s coal mining activity.