DPCL ties up with lenders' consortium to develop all-weather deep port
BHUBANESWAR: Dhamra Port Company Limited (DPCL), a joint venture unit of Larsen and Toubro Limited (L&T) and Tata Steel Limited, tied up with a consortium of lenders for development of an all-weather deep port at the mouth of the Dhamra in Bhadrak district.
The agreement signed with the consortium led by Industrial Development Bank of India (IDBI) at Chennai on Tuesday marked the financial closure for the project, a company release said here on Wednesday. "The consortium agreed to part finance the project cost of Rs. 24,600 crores," it said.
The financial closure came at a time when the company was close to acquiring land required for the 62-km rail connectivity to the main Howrah-Chennai line at Bhadrak. After completion, Dhamra Port would be the deepest all-weather port of its kind in India with a draught of 18.5 metres, which can accommodate super cape-size vessels up to 180,000 DWT, the company claimed.
The port would 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, would come up in the first phase, it said.
The proposed port is expected to cater to the need of mineral-based industries coming up in north Orissa, Jharkhand, West Bengal and Chhattisgarh. "The Dhamra Port is also going to be major player in Tata Steel's global plans and aspirations," DPCL Chief Executive Officer S.K. Mohapatra said.
DPCL was awarded a concession by Orissa for expansion and development of Dhamra Port on BOOST (Build, Own, Operate, Share and Transfer) basis.
The company envisaged putting in place highly mechanised and advance material handling facilities.