KICT

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Kandla International Cargo Terminal Private Limited (KICT or the “Company”) is a part of the J.M. Baxi Group (JMB or the “Group”) and is 100% held by International Cargo Terminals & Infrastructure Pvt. Ltd (ICTIPL or the “Sponsor”). KICT entered into a 30-year Concession Agreement (CA) with the Deendayal Port Trust (DPT), erstwhile Kandla Port Trust, to upgrade, operate and maintain two container berth terminals (Berth 11 and 12) on Design, Built, Finance, Operate and Transfer (DBFOT) basis. KICT commenced operations in January 2017. KICT’s facilities include a quay of 545 m and a terminal area of 23.86 hectares with four rail mounted quay cranes (RMQCs), four rubber tyred gantry crane (RTGCs), 48 reefer points, six reach stackers and two forklifts with a yard of 150,000 sqm and a ground slot capacity of 2,688 TEUs (twenty-foot equivalent units). KICT has recently obtained an empty yard of 51,600 sqm on lease from DPT, exclusively for stacking the empty units. The approach channel is 22 km long and 350 m wide with 13.5 m depth. As per the concession, it is the responsibility of DPT to maintain the draft of 13.5m. DPT is a major gateway to the north-western corridor of India and KICT’s catchment area (north to west India) is the dominant region (>65% share) for India’s container capacity and traffic. Gandhidham, one of the largest trading hubs in the western India is located at a distance of ~3.5 km from KICT. KICT is connected by road to the National Highway NH-8A (to Ahmedabad) and by rail to western railway at Gandhidham Junction. KICT is planning to augment the existing capacity of berths 11 and 12 from its current capacities of 0.6 million TEUs per annum to 0.75 million TEUs through addition of more equipment including one  RMQC and four e-RTGCs and through development of existing yard (entailing activities such as paving the surface, laying storm water drainage line, providing an access gate and installation of electrical poles and lighting). The proposed IFC investment is A loan of up to US$30 million to KICT for the proposed brownfield expansion, limited to the purchase of equipment, and refinancing of the debt for the two container berths (the “Project”).