J M Baxi Ports & Logistics & Indian Potash team set to win a Multipurpose cargo berth deal at Vizag Port : Sources

MUMBAI: A consortium of Indian Potash Ltd and J M Baxi Ports & Logistics Ltd is set to win the rights to mechanise and run a multipurpose cargo berth at Stateowned Visakhapatnam Port by emerging the highest bidder forthe30-yearcontract.

The India Potash-J M Baxi Ports & Logistics team placed the highest royalty of Rs55.44 a tonne for the project when the pricebidswereopenedrecently,aportofficialrevealed.

Indian Potash Ltd – more than 70 percent owned by fertiliser co-operatives – is India’s biggest fertiliser importer and the second largest buyer of fertilisers in the global market. Indian Potash imports fertilisers through all the Indian ports and it is the only company in India which handles fertilisers throughout theyearatallports.

“The joint venture between Indian Potash and J M Baxi Ports & Logistics will create a long-term sustainable partnership for fertiliser handling at Visakhapatnam Port,” theportofficialmentioned earliersaid.

Port tenders at Major Ports (owned by the Centre) are decided on the basis of royalty per ton – the entity willing to share the highest royalty per ton of cargo handled at the berth withtheportauthority winsthedealfor30years.

The royalty payable will rise annually in tandem with the increase in wholesale price index (WPI), a measure of costs. The terminal operator will be free to set market rates under the new Major Port Authorities Act and the model concession agreement (MCA).

This will be the fourth contract win for J M Baxi Ports & Logistics at a State-owned major port in recent times. Mumbai-based J M Baxi Ports & Logistics, India’s third most valued logistics company, secured contracts last year to run container terminals at Jawaharlal Nehru Port and V O Chidambaranar Port (formerly Tuticorin Port) and the shallowwater/coastal berthsatJNPort.

The contract at Visakhapatnam Port involves mechanising theeasterncoastport’s EastQuayberth 7(EQ7) for handling cargo including fertilisers with private funds worth Rs201 crores. When mechanised, the EQ7 berth will have a capacity to handle 3.61 million tonnes (mt) of cargo a year.

The project is part of the national monetisation pipeline (NMP) of the government wherein operational infrastructure assets including port terminals will be privatised through the public-private-partnership (PPP)route.

J M Baxi Ports & Logistics runs a 1.5 million twenty-foot equivalent units (TEUs) capacity container terminal at Visakhapatnam Port.

m.v. “ZOI” (ZIM VOY: IZ5 21/E) I.G.M. NO. 2333865 DTD. 27.01.2023

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