Adani Ports to develop 3rd phase of Mundra Port for Rs 6,000cr

16 January 2017

Adani Ports and SEZ Ltd will invest Rs 6,000 crore for the development of third phase of Mundra Port.

The upcoming capacity expansion of Mundra Port, touted as one of the top multi-purpose ports in the country in terms of traffic held, would lead to employment generation for 600 people, sources said.

A token MoU to this effect was signed in the presence of Gujarat Deputy Chief Minister Nitin Patel at the Vibrant Gujarat Global Summit.

Essar Ports too plans to develop port facilities along the Gujarat coast at an investment of about Rs 10,600 crore, a move that is expected to result in employment generation opportunities for 1,000 people.

A slew of MoUs signed here today also include one by West Cost Liquid Terminal — an SPV of Shapoorji Paloonji Group — which intends to invest Rs 1,200 crore for development of LPG and Liquid Storage Terminal at the greenfield port location of Chhara (District Gir Somnath).

This project, said state officials, will be an important contributor in increasing LPG reach in the Northern, Western and Central parts of the country, for domestic cooking fuel segment by enabling the LPG imports.

In the roads and building sector, the National Highways Authority of India (NHAI) intends to invest Rs 13,000 crore to create Vadodara-Talasari six-lane expressway.

The move is expected to improve the connectivity between Ahmedabad and Mumbai.

In the areas of water supply, Classic Network has outlined plans to invest Rs 1,000 crore for development of a water supply project entailing employment for 1500 people.

In addition, Solar Sewage Basic Infrastructure is planning to invest Rs 5,000 crore for undertaking Sea Water desalination project on BOOT basis, a project that would provide employment to nearly 600 people in the State.

The Vibrant Gujarat summit has been a hub of business activities over the last three days, with captains of the industry announcing massive investments into the state.

At the high-profile inauguration of the event by the Prime Minister on January 10, global as well as Indian business leader announced plans to invest in areas such ports, automotive, IT, renewable energy, water, cement, amongst others.

“Companies like Boeing, Airbus, Adani Group, and large numbers others have shown tremendous interest in investing in the state,” J N Singh, Chief Secretary, Gujarat Government told PTI.

Source – BS