Dhamra port pays Rs 73.48 cr to govt

Dhamra Port Company Ltd (DPCL), a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd, has paid Rs 73.48 crore to the state government as part of revenue share commitment made by it to the Odisha government. Santosh Kumar Mohapatra, director of the company, today handed over a bank document of the amount of revenue share to Chief Minister Naveen Patnaik at the state secretariat, said a company statement.

The revenue share of Rs 73.48 crore covers the period starting commencement of operation of the port in May 2011 upto September 2014. The company was allowed a moratorium till March 2016 as per the concession agreement, but has started paying its revenue share ahead of the expiry of the period.

As per the concession agreement, Dhamra Port had to pay a share of 5 per cent of its total revenue earning to the state government, which will become 8 per cent from the financial year 2016-17, and subsequently increase to 10 per cent and then to 12 per cent in future, meaning more cash flow in subsequent years.

The port presently has two berths for handling dry bulk cargo and has 18 km channel with 17.5 metre draft for allowing smooth berthing of cape size and super cape size vessels. The new promoter of the port, Adani group, is keen to expand the port into one of India’s largest ports in the coming years, said the company in a statement.