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Financial closure achieved for Gopalpur Port project

May 12, 2010 Leave a comment

Gopalpur Ports (GPL), a SPV floated by Orissa Stevedores (OSL), Sara International and the Hong Kong based Noble Group, has achieved financial closure for Phase I of the project which comprises developing Gopalpur into an all-weather port.

GPL recently signed a loan agreement with a consortium of 11 banks led by Punjab National Bank for a total loan amount of Rs 848.78 crore. The other bankers in the consortium are Bank of India, Dena Bank, Indian Bank, Oriental Bank of Commerce, State Bank of Patiala, State Bank of Travancore, Uco Bank, Union Bank of India, United Bank of India and India Infrastructure Finance Company.

In Phase I, GPL proposes to construct the breakwaters, three berths along with all associated material handling equipment, stockyards, warehouses and railway infrastructure. The project is likely to be completed in a span of two years.

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Port projects in Orissa in troubled waters

May 11, 2010 Leave a comment

Around four proposed port projects in north Orissa are facing problems because of their proximity to defence establishment in Balasore district.

The projects are Kirtania Port, Chudamani Port, Inchuri Port and Bahabalpur Port. Except Chudamani port that comes under Bhadrak district, other projects are located in Balasore district where the Defence Research and Development Organisation has an interim test range centre from where the missiles are test fired.

The defence ministry has stated that there should not be any port between Kirtania and Dhamra on the northern part of the Orissa coast.

This has caused a stir amongst prospective investors who have evinced interest to establish ports. In 2006, Creative Port Development signed an MoU with the Orissa Government to set up 10-million tpa port at Kirtania with an investment of Rs 2,000 crore while the Aditya Birla Group signed MoU in 2009 for setting up an equal capacity port with an investment of Rs 1,500 crore at Chudamani.

CCI nod for multipurpose berth at Paradip

May 10, 2010 Leave a comment

The Cabinet Committee on Infrastructure (CCI) on 6 May 2010 accorded its approval for the development of multipurpose berth to handle clean cargo including containers at Paradip Port, Orissa, on BOT basis at an estimated cost of Rs 387.31 crore.

The project envisages construction of clean cargo and container handling facilities of 5 million tpa. The dedicated multipurpose clean cargo berth will enable efficient handling of vessels facilitated by mechanised operations and will reduce the cost of cargo handling and attract container traffic to the port.

The project is slated to be completed within 36 months from the date of award of concession. The period of concession is 30 years.

JSL signs MoU for power plant

Ratan Jindal led JSL on 6 May 2010 signed an MoU with the Orissa Government for setting up of 1,320 MW (2 X 660) Super Critical Thermal Power Plant (SCTPP) at Luni in Dhenkanal district with an investment of Rs 7,375 crore.

As per the MoU, the company is expected to draw water from the Mahanadi river system for the proposed project. The state government is likely to procure 158 to 185 MW from the project at variable cost.

The company requires around 2,000 acre for the project which is scheduled to be commissioned in 55 months from the date of possession of the land.

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