| Log In | Join | Shipping / Transport Home Markets IPO Personal Finance Mutual Funds Tech Jobs Features Blogs Slideshows ET NOW ET Speed Top News News By Industry News By Company Economy Politics and Nation International Business Emerging Businesses PSU Press Releases Other Press Releases NRI Auto Banking/Finance Cons. Products Energy Ind'l Goods/Svs Healthcare/Biotech Jobs Services Media/Entertainment ET Cetera Telecom Transportation Education Hi there, Login with your Facebook ID to see what your friends are reading on Times of India and Economic Times. SPOTLIGHT You are here: ET Home News News By Industry Transportation Shipping / Transport Platinum Sponsors Gold Sponsors Opinion New By PTI | 7 Aug, 2013, 06.58PM IST 2 comments | Post a Comment 4 0 Ads by Google Term Insurance @Rs.5/day* IndiaFirstLife.com/Term_Insurance - Rs 10 lakh cover for just Rs 1523 Per Year*. Apply Now & Save Tax. 'Adanis close to acquiring Dhamra Port' 'Adanis close to acquiring Dhamra Port' READ MORE ON Tatas | Tata Steel | Odisha government | Jharkhand NEW DELHI: Country's biggest port operator Adani Ports is close to acquiring Dhamra Port, an equal joint venture between Tatas and L&T, in a deal believed to be worth about Rs 5,000 crore. Talks between Adanis and Tata Steel BSE 5.18 % and Larsen & Toubro have reached a point where the signing of the deal is just a formality, sources close to the development said. When contacted, the three companies involved in the proposed deal declined to comment. "Adani Ports people have already started working at the Dhamra Port," a source said, adding Adanis have already taken Tata Steel on board on valuation front. L&T is believed to be unhappy with its expected returns. "Adanis are confident of resolving the valuation issue with L&T. The final deal may be signed in a couple of months from now," he added. Dhamra Port Company, which operates the port, has been awarded a concession by Odisha government to build and operate a port on Dhamra river in Bhadrak district on BOOST (Build, Own, Operate, Share and Transfer) basis for a total period of 34 years, including a period of 4 years for construction. Another source said as per the Tata Steel and Adani Ports deal, Dhamra port could be valued at Rs 5,000 crore. Going by the location and future plan, which is subject to Share Share Share More News Indiatimes | The Times of India | The Economic Times | More Search for News, Stock Quotes & NAV's 'Adanis close to acquiring Dhamra Port' - The Economic Times http://economictimes.indiatimes.com/news/news-by-industry/transportatio... 1 of 4 11/08/2013 7:35 PM Stock Market: Dealing with Fraud How shares in listed firms are used to convert black money into white The broker has routed the client's own money back to him, with the advantage that the client can show this as a legitimate capital gain in his tax return a gain which is tax free. Sebi slaps Rs 12 lakh fine on 3 entities in Sanjay Dangi case Award maximum term to Sahara directors, SEBI tells Supreme Court Most Read Most Shared Most Commented Eight smart money moves to make before the ag... MBA no longer a passport to a successful care... Amrit Kaur: Aged 80, she's India's newest bil... More from The Economic Times Odisha, L&T sign pact to set up mega lift irrigation schemes 07 Aug 2013 Sensex bounces back: Here are top 'buy' and 'sell' picks from experts 08 Aug 2013 Top 20 stocks that hit 52-week low on BSE-100 26 Jul 2013 Not easy for Nifty to cross 5620-5630: Sandeep Wagle 08 Aug 2013 More from the web The Best Way to Optimize Your Retirement Portfolio Compare 429 Credit Cards - Apply for the Best Credit Cards Why These 3 Insurance Policies Are a Must LearnVest How to Get Started in Healthcare Straighter Line Sinai Is the Next Big Jihadist Battle World Politics Review Long Term Stocks For 2013 Equitymaster.com/Long-Term-Stocks - Exclusive List of Long Term Stocks To Own In 2013. Get Free Copy Now! Ads by Google PREVIOUS STORY Truck rentals fall by 2 to 3 % in trunk routes connecting metros NEXT STORY Vizag Port awaits court order to sign agreement with Essar certain clearances, Dhamra port offers a huge potential. The location of Dhamra in close proximity to mineral belt of Orissa, Jharkhand and West Bengal. It is poised to become the biggest and most efficient Port in the East Coast of India, Dhamra Port company says in its website. Larsen & Toubro was the first to announce, among the two promoters, to exit from the port as it is "a non-core asset". Tata Steel, however, earlier ruled out any immediate exit. Adanis are eyeing Dhamra Port as it will help Adani Ports and SEZ to expand its presence on the east coast. Dhamra Port also has the deepest draft which is suitable for large vessels making it the most cost-effective port on the eastern coast. Adani Ports is country's largest port operator with its flagship Mundra Port in Gujarat being the largest commercial port in India. The company has presence at six ports in India, five being at the west coast. Adanis only port on the east coast is the Vizag port having seven mtpa capacity. Built on BOOST basis, Dhamra Port Company has a concession period of 34 years, years, including 4 years for construction. Options are there for enhancing the concession period for two additional periods of 10 years each. The first phase construction, at an investment of Rs 3,200 crore, commenced in March, 2007 and it began commercial operations in May, 2011. Though it operates two berths with an annual capacity of 25 million tonnes of cargo now; the master plan of the Port envisages 15 berths, capable of handling more than 100 million tonnes of dry bulk, liquid bulk, break bulk, containerised and general cargo. Recommended by READ MORE ON Tatas | Tata Steel | Odisha government | Jharkhand Follow Economic Times Shipping / Transport Section, For The Latest Recommend Send One person recommends this. Sign Up to see what your friends recommend. 'Adanis close to acquiring Dhamra Port' - The Economic Times http://economictimes.indiatimes.com/news/news-by-industry/transportatio... 2 of 4 11/08/2013 7:35 PM News in Pics 4/20 9 essential toolkit for your PC Step-by-step guide to file your income tax re... Little-known tax deductions you might have mi... More Most Watched Videos MORE FROM VIDEOS Slide Shows Ten remarkable infrastructure developments in India From roadways, railways to airports and other smart-city initiatives, the last few years have ... Ten metro rail projects transforming Indian cities We take a look at how Metro connectivity has helped many cities in India and the upcoming netw... What's new in Android 4.3 Jelly Bean OS Google's latest tablet Nexus 7, will run on Android 4.3 Jelly Bean Operating software. And alt... More Slideshows Roshni Nadar appointed additional director of HCL Tech Roshni Nadar appointed additional direct... Brand Equity: Priyanka Chopra hits the h... Meet Rohini Nilekani, who mastered the a... NEWEST OLDEST MOST DISCUSSED AGREE DISAGREE LOGGED IN COMMENTSNEW! wrong and mischevious article. Since when Adani became country biggest port operator? govt. of India, Port trust and authority of India control 95% of ports and cargo handled. Private operators like Adani do not have even 5% business of India. Agree (1) Disagree (1) Recommend (0) Offensive Great going. :-) Cheers to Adani Port. - Former employee of Adani port and SEZ ltd. (Was known as Mundra port and sez back then). Agree (0) Disagree (0) Recommend (0) Offensive TOP STORIES Pakistan violates ceasefire, injures BSF jawan Violating the ceasefire thrice in the last two days, Pakistani troops today opened fire at forward posts along the international border in Jammu and Kashmir. Detroit crisis may give lift to municipal bond insurers Caribbean nations are wooing Indian immigrants Financials near to regaining S&P 500's top spot New border defence pact between India, China on anvil News! Readers' opinions (2) INFOCUS ON ET TODAY INFOCUS ON ET TODAY Like 66 Have something to say? Post your comment Comments are moderated and will be allowed if they are about the topic and not abusive. Characters remaining (1500) 3 Days ago Takdeerwala (Pune) 3 Followers 3 Days ago Amol Sarode (Pune) Silver: 1563 3 4 'Adanis close to acquiring Dhamra Port' - The Economic Times http://economictimes.indiatimes.com/news/news-by-industry/transportatio... 3 of 4 11/08/2013 7:35 PM Get a Quote Other Times Group news sites Times of India | 5|=|l-5 | | Mumbai Mirror Times Now | Indiatimes |
Living and entertainment Timescity | iDiva | Bollywood Zoom | Healthmeup | Luxpresso Technology | Guylife | Online Songs Networking itimes | Dating & Chat | Email MensXP.com Hot on the Web Breast Feeding | Online Shopping Movie Review Videos | Miss India Used Cars in Chandigarh | Bike Price India Services Book print ads | Online shopping | Free SMS | Website design | CRM | Tenders Matrimonial | Ringtones | Astrology | Jobs | Property | Buy car | Bikes in India Used Cars | Online Deals | Restaurants in Delhi | Movie Show Timings in Mumbai Remit to India | Buy Mobiles | Listen Songs About us / Advertise with us / Terms of Use and Grievance Redressal Policy / Privacy Policy / Feedback / Sitemap / Code of Ethics Copyright 2013 Times Internet Limited. All rights reserved. Browse Companies A B C D E F G H I J K L M N O P Q R S T U V W X Y Z | 1 2 3 4 5 6 7 8 9 Home | News | Markets | Personal Finance | Mutual Funds | Infotech | Jobs | Opinion | Features | Videos | My Portfolio | Budget 2013 Live Market News Portfolio Mobile Live TV Newsletter Commodities Speed QnA Blogs Alerts PERSONAL TECHNOLOGY Nexus 7: What's new in Google's latest tablet Best Android options from Rs 5,000 to Rs 40,000 Launch pad: iBall Andi 4Di, BenQ W750 3D projector EMERGING ENTERPRISE Startup success: Decoding a term sheet by venture capitalist Tata Elxsi takes Big V Telecom into incubator programme Start-up Kartrocket raises USD 2,50,000 from angel investors GetQuote GetQuote GetQuote GetQuote 'Adanis close to acquiring Dhamra Port' - The Economic Times http://economictimes.indiatimes.com/news/news-by-industry/transportatio... 4 of 4 11/08/2013 7:35 PM