3.9 C
Hamburg
Saturday, February 8, 2025
Home Port News JNPT, APSEZ and Veritas fight for Dighi Port

JNPT, APSEZ and Veritas fight for Dighi Port

India’s biggest container gateway, the Jawaharlal Nehru Port Trust (JNPT), and the country’s biggest private port developer, Adani Ports and Special Economic Zone Ltd (APSEZ), are competing for the first time to acquire a port project — the debt laden Dighi Port Ltd — which has been put up for sale under the bankruptcy law.

JNPT and APSEZ have submitted separate resolution plans for Dighi Port Ltd, the entity that runs a greenfield port located on the banks of Rajpuri creek in Maharashtra’s Raigad district.

The third contender

The duo has a third contender to deal with — a consortium of Veritas (India) Ltd, Veritas Infra & Logistic Pvt Ltd and Veritas Polychem Pvt Ltd, which had also filed a resolution plan when the deadline ended on Thursday, according to multiple officials briefed on the bids. They declined to discuss the resolution plans submitted by the three groups.

The bid submitted by Veritas could create a potential conflict of interest because of a lease agreement it had signed with Dighi Port to set up some facilities, they said.

Both JNPT and APSEZ have their own separate strategies to buy Dighi, which owes 2,601.73 crore to a clutch of 16 banks led by Bank of India.

Read more on The Hindu BusinessLine.

 





Latest Posts

Port of Halifax receives Transport Canada grant

The Halifax Port Authority was awarded funding up to CA$22.5 million (US$15.7 million) from Transport Canada through the Green Shipping Corridor Program to prepare...

Port of Gothenburg surpasses 900,000 TEU mark in 2024

In 2024, the Port of Gothenburg handled 909,000 TEUs of containerized cargo, translating to a slight decrease of 1% compared to the previous year's...

VTT leads US$13.2 million project to boost Oulu Port’s security and resilience

VTT Technical Research Centre of Finland, in collaboration with Oulu Port and 20 other partners, has launched a three-year international project aimed at strengthening...

Understanding and Addressing Challenging Behaviors in Children With Autism: Tips for Parents

For parents navigating the behavior complexities associated with autism, understanding the nuances of their child’s actions can be a continuous challenge. Children on the...

North Sea Port inks partnership deals with Canadian ports

North Sea Port is set to intensify its collaboration with the Canadian ports of Montréal, Québec, Saguenay, Sept-Îles, and Trois-Rivières. This partnership aims to strengthen...
error: Content is protected !!