Adani Ports and Special Economic Zone added 1.89% to Rs 1457.25 after the company said that it has signed a concession agreement with DPA to develop Berth No. 13 at Deendayal Port, Kandla, Gujarat.
APSEZ has incorporated a wholly owned subsidiary, DPA Container and Clean Cargo Terminal Limited (DPACCCTL), that will carry out operations at the berth.
In July 2024, APSEZ had received the LOI for the development, operation and maintenance of the berth for a 30-year concession period. APSEZ will develop the berth under DBFOT (design, build, finance, operate, and transfer) model for multipurpose clean cargo, including container cargo.
Berth No. 13 is 300 meters long and offers 5.7 MMT capacity annually. It is likely to be commissioned in FY27.
Ashwani Gupta, whole-time director and CEO, APSEZ, said: “Berth No. 13 will diversify our presence at Deendayal Port.
We will now handle multipurpose clean cargo at the port, in addition to dry bulk cargo that we already handle. The berth will further consolidate our position on the western coast and enhance our ability to service customers in Gujarat and north India.”
Adani Ports & Special Economic Zone is in the business of development, operations and maintenance of port infrastructure (port services and related infrastructure development) and has linked multi product Special Economic Zone (SEZ) and related infrastructure contiguous to port at Mundra.
The companys consolidated net profit surged 47.2% to Rs 3,112.83 crore on 11.34% in revenue from operations to Rs 6,956.32 crore in Q1 FY25 over Q1 FY24.
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First Published: Sep 12 2024 | 11:03 AM IST
