Haldia Dock Complex (4A Berth)

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International Seaports, a special purpose company formed by ISP Singapore, and Dubai-based S.S. Global held the respective 67 and 33 percent stakes in the 4A berth at Haldia Dock Complex. The Rs 100-crore (approx. US$23 million) project involved the construction of the berth and installing mechanical handling equipment for the dry bulk cargo. Larsen & Toubro was awarded the contract to construct the berth in June 2002. The company signed an agreement with Steel Authority of India to use the berth for 30 years for the import of coking coal. This was to assure about 70 percent berth occupancy to handle about 3 million tones annually and revenue of about Rs 25 crore. Financial closure was achieved in March of 2003 with funding arrangements provided by Indian national banks. The berth was commissioned in January of 2004.