Adani Murmugao Port Terminal Private Ltd

Active

Adani Murmugao Port Terminal Private Ltd was created to build and operate a port terminal for coal with a capacity to handle around 7 million tonnes of coal per year, with 5 million tonnes expected in the first full year of operations in Mormugao Port, state of Goa, India. The terminal was to be situated near the existing Berth No.7, a 50-year old berth that has a draft of only 3.5m currently used for iron ore exports. The project was to be implemented under a 30-year design, build, finance, and operate concession. Adani Murmugao Port Terminal Private Ltd, a subsidiary of Adani Group and Mundra Port and Special Economic Zone (MPSEZ), won the project in a competitive tender by offering a 20% revenue share to Mormugao Port Trust. This was the highest of the two bid received. The project had attracted interest from other players like Tata Group, Zoom Developers Ltd and Gammon Infrastructure Projects Ltd. In August 2009, Mormugao Port Trust awarded the letter of acceptance to Adani Group for developing a coal-handling terminal on BOT basis. Mormugao Port Trust (MPT) signed the concession agreement with Adani Murmugao Port Terminal Private Ltd on 22 September 2009 The project cost was estimated at INR5.2768 billion (US$115.4 million). The project reached financial closure in May 2010. Financing comprised an INR2.85bn 12-year term loan and INR2.4268bn equity. Axis Bank was the sole MLA for the debt.

High