Dhamra Port (India) signes the loan agreement
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 signed the loan agreement at Chennai on Tuesday 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 billion. The company is working with BNP Paribas for ECA funding.
Sheltered between the main land and the Kanika 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.
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 mechanised 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 62-km rail connectivity to the main Howrah-Chennai line at Bhadrak.
The port will eventually have 13 berths to handle over 83 million tonnes of cargo per annum. Of these, the first two berths with a handling capacity of up to 25 million tonnes 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 that is set 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 joint venture of L&T and Dredging International of Belgium, will carry out the dredging work.
The company signed the loan agreement at Chennai on Tuesday 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 billion. The company is working with BNP Paribas for ECA funding.
Sheltered between the main land and the Kanika 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.
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 mechanised 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 62-km rail connectivity to the main Howrah-Chennai line at Bhadrak.
The port will eventually have 13 berths to handle over 83 million tonnes of cargo per annum. Of these, the first two berths with a handling capacity of up to 25 million tonnes 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 that is set 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 joint venture of L&T and Dredging International of Belgium, will carry out the dredging work.