Adani ports secures 5-year contract for Kolkata operations

Adani Ports and Special Economic Zone Ltd. (APSEZ) has won a five-year operation and maintenance contract for the container facility at the Syama Prasad Mookerjee Port in Kolkata. The contract, awarded through a competitive bidding process, was confirmed with a letter of intent (LOI).

Under the contract, APSEZ must deploy cargo handling equipment within seven months from the letter of acceptance (LOA) date. The Syama Prasad Mookerjee Port is a key port for the Indo-Bangladesh Protocol on Inland Water Transit and Trade routes. Netaji Subhas Dock, part of the port, has regular liner services from major hub ports like Singapore, Port Kelang, and Colombo.

APSEZ's presence at the dock is expected to enhance connectivity between the terminal and its container ports, especially with upcoming transshipment hubs at Vizhinjam and Colombo. Netaji Subhas Dock, the largest container terminal on India's eastern coast, handled approximately 0.63 million TEUs in FY2023-24, serving a vast hinterland including West Bengal, Bihar, Uttar Pradesh, Jharkhand, Assam, the northeastern hill states, and the landlocked countries of Nepal and Bhutan.

"We will bring our experience of over two decades of efficiently managing various container terminals within India and outside, benefiting customers and the people of the state," said Ashwani Gupta, full-time director and CEO at APSEZ.

On Friday, shares of Adani Ports were trading at ₹1,375, up 1.63% on the NSE, with the stock rising over 30% this year.