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The Dhamra Port Company Limited ( DPCL ) , a
50:50 joint venture company of Larsen & Toubro Limited ( L & T )
and Tata Steel Limited , has achieved financial closure for
development of an all-weather deep port at a location north of
the mouth of river Dhamra in Orissa. The Company has signed the
loan agreement at Chennai on 27th February,2007 with a
consortium of lenders led by the Industrial Development Bank of
India( IDBI) who have agreed to part finance the project cost of
Rs. 24.6 bn. The Company is working with BNP Paribas for ECA
funding.
Sheltered between the main land and the
Kanika Sands Island on the eastern coast, Dhamra Port will be
the deepest all-weather port of its kind in India with a draught
of 18.5 meters, which can accommodate super cape-size vessels up
to 180,000 DWT. This will be a boon to the mineral hinterland of
north Orissa, Jharkhand, West Bengal and Chhattisgarh which are
in close proximity to the port and where a large number of steel
plants and mineral based industries are located besides many
more which are on the anvil. The cargo of mineral and mineral
based industries being highly freight sensitive , a deep draught
port will be of great advantage as such cargo can move in larger
vessels leading to lower incidence of sea freight on the landed
cost. The highly mechanized and advance material handling
facilities planned at the port will offer the users loading and
discharge rates comparable to the best in the world.
The port project includes a 62-km rail
connectivity to the main Howrah-Chennai line at Bhadrak.
The port will eventually have 13 berths to
handle over 83 million tons of cargo per annum. Of these the
first two berths with a handling capacity of up to 25 mn tons of
bulk cargo per annum will come up in the first phase. When fully
developed, the port will handle all types of cargo such as dry
bulk, break bulk, liquid and container cargo. Apart from Tata
Steel who is a co-promoter of the port , a number of other steel
plants, mines and industries in the region will use the port
which is going to become eastern India's major gateway to the
world.
L & T's Engineering Construction & Contracts
Division will be constructing the modern port with all
facilities while International Dredging seaport Company Limited,
a JV of L & T and Dredging International of Belgium, will carry
out the dredging work.
Subsequent to the signing of the financing
documents , Mr. S. K Mohapatra, CEO, remarked " The Dhamra Port
is going to be major player in Tata Steel's global plans and
aspirations." Mr. H.M Nerurkar, Director , DPCL, Vice President
(Kalinganagar Project Orissa & Technology ) added " The Dhamra
Port Project signifies the coming together of the largest Steel
industry in the private sector and the largest engineering and
construction major. The project is bound to be a successful
venture."
Signing on behalf of L & T , Mr. K.V
Rangaswami , Director, DPCL and Member Board L & T stated " L &
T's total construction capabilities encompassing various facets
of engineering & construction, including supply of critical
material handling equipments will ensure timely completion of
this project" . Mr. K.G. Hariharan, Director DPCL , Senior Vice
President , L & T - ECC , expressed " This is one more addition
to
L & T's foray in the infrastructure sector.
The long association of L & T and Tata Steel is sure to make
this project a great success."
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