SMP inks MoUs for Rs 25,000-cr investment in port-related works

By: |
February 26, 2021 3:45 AM

SMP has also inked a deal with Indian Oil Petronas for loading of LPG barges for export of propane, butane and LPG to Bangladesh, with an investment commitment of Rs 600 crore.

Aegis Logistics of the Aegis Group will invest Rs 1,500 crore for inland water movement of LPG barges between the Haldia Dock Complex and Manihari terminals at Sahibganj, as per another agreement. (Representative image)Aegis Logistics of the Aegis Group will invest Rs 1,500 crore for inland water movement of LPG barges between the Haldia Dock Complex and Manihari terminals at Sahibganj, as per another agreement. (Representative image)

The Syama Prasad Mookerjee Port Trust (SMP) — earlier known as the Kolkata Port Trust — has signed 35 memoranda of understanding (MoUs) for cumulative investment of Rs 25,000 crore in port-related works, ahead of the Maritime India Summit. The summit is slated to be inaugurated by Prime Minister Narendra Modi.

SMP chairman Vinit Kumar said that as an important stakeholder in the second edition of the Maritime India Summit, the trust is looking towards opportunities to attract investments to its two cargo handling arms in Kolkata and Haldia.

The key MoUs have been signed in areas such as ship repair, ship building, creation of a digital port framework, transloading operations, inland waterway services, logistics operations and container freight stations, which can give a major boost to the region’s economy, he said.

SMP has signed an MoU for ship repair, ship buildings operations and management of facilities at three dry docks of Kidderpore with Garden Reach Shipbuilders and Engineers, which will invest around Rs 300 crore.

It has inked an agreement to create a digital port framework to develop smart ports with best practices and digital solutions with CISCO Commerce India. Another MoU, for ship-to-ship transloading of imported LNG within the jurisdiction of SMP, has been signed with BPCL. The oil major will deploy foreign flag vessels to operate as daughter vessels for the operations. BPCL has committed to invest Rs 1,500 crore as per the MoU.

Aegis Logistics of the Aegis Group will invest Rs 1,500 crore for inland water movement of LPG barges between the Haldia Dock Complex and Manihari terminals at Sahibganj, as per another agreement.

SMP has also inked a deal with Indian Oil Petronas for loading of LPG barges for export of propane, butane and LPG to Bangladesh, with an investment commitment of Rs 600 crore.

SFA Logistics Park will set up a greenfield private freight terminal at Dankuni, planning to invest `509 crore. The terminal will be in close proximity of the landing station of the eastern dedicated freight corridor at Dankuni and SMP being a city port will be able to use it as a storage site for cargo and containers. The terminal will connect to the planned industrial corridor from Dankuni to Asansol via Burdwan and Durgapur.

MoUs to promote asset utilisation through automotive cargo handling at common user facility, and to promote railway transportation of containerised cargo at SMP’s captive rail sidings have been signed with Joshi Konoike Transport Infrastructure and Adani Logistics, who will cumulatively invest Rs 13 crore.

MoUs have been signed with Pristine Mega Logistics Park, ANZ Business Chamber and Bharat Chamber of Commerce to commence rail services from SMP Kolkata to the inland container depot (ICD) Siliguri, for knowledge exchange and trade promotion in Australia, New Zealand and Singapore regions, and to create an ecosystem for development, modernisation and promotion of inland water transportation, respectively.

Pristine, which will run railway services, has committed `90 crore for the works. The ICD at Siliguri caters to the markets in the northeastern states, of Nepal and Bhutan. Other MoUs to developing centralised food processing facilities, tea parks and MSME parks have also been signed, Kumar said.

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