Kamarajar Port-Adani Group terminal to be ready in 1 month

The Kamarajar Port-Adani Group's Rs 1,270 crore container terminal at the Port is expected to go operational within a month, a top official said here today.
Adani Group and Kamarajar Port Ltd had signed a "concession agreement" in March 2014 to set up the container terminal in two phases at a cost of Rs 1,270 crore.
The terminal would have a handling capacity of 1.4 million TEUS, with a total quay length of 730 metres upon completion.
"It is a big achievement for us.It is the first time that Kamarajar Port Ltd is going to handle this kind of project. We expect it to be ready in a month's time", Kamarajar Port Ltd., Chairman and Managing Director M A Bhaskarachar told reporters here.

Noting that construction had been completed at the site, he said it was part of the Port's plan to increase cargo handling capacity to 86 million tonnes.
On setting up of Multi-Cargo Terminal with Chettinad International Bulk Terminal Pvt Ltd., at the port, he said it was also expected to commence soon.

For this, the two firms had signed an agreement in March 2014 to develop multi-cargo terminal on DBFOT (Design, Build, Finance, Operate and Transfer) basis, with a handling capacity of 2.0 MTPA.
"Construction work has been completed and terminal is expected to commence shortly", he said.
Listing out the Port's performance in 2016-17, he said cargo handling was 30.2 million tonne as of March 31, 2017 against 32.21 million tonnes handled during the same period of the previous year.

"The shortfall was due to reduction in the usage of coal by Tamil Nadu Electricity Board as compared to last year", he said.
On handling of automobiles from the Port, he said it handled 2,27,581 units in 2016-17, compared to 2,16,922 units in 2015-16.
"We will be adding capacity to accommodate around 30,000 units of cars this (financial) year", he said.
Asked about the financial performance, he said the Port expects to garner Rs 681 crore as income for 2016-17 fiscal.
"Last year (2015-16) income was Rs 617 crore. This year we are yet to finalise the financial details. We expect the income to be around Rs 681 crore", he said.

On capital expenditure planned for 2017-18, the Chairman said the Port has earmarked Rs 400 crore of which some would be raised through bank loans.
Last year Kamarajar Port had planned Capex of Rs 250 crore but spent Rs 545.63 crore for creating infrastructure, capital dredging and coal berths, he said.