October 12, 2008

SKIL investing INR 1,200 crore to set up a port at Positra

BL reported that Mumbai based SKIL Infrastructure Limited would be investing around INR 1,200 crore in setting up a port at Positra in Gujarat.

With a draught of 16 meters and a shore area of 4,000 acres, the port will be able to handle ships of 8,000 to 10,000 TEUs. Mr Rajesh Samson associate director of Ernst & Young said that "According to SKIL, the port will initially have one terminal with a capacity to handle 1.5 million TEUs which will come up by financial year 2011. They plan to scale up to eight terminals of 1.5 million TEU capacity each by 2018."

Mr Samson said that SKIL Infrastructure is already in talks for tying up with strategic partners for the project. It is also understood to be negotiating with the state government for concession agreement and expects to get necessary clearances shortly.

He said that the proposed Positra port is a part of SKIL Infrastructure’s plan to have a shipyard along with other related facilities with an estimated cost of INR 6,000 crore. He added that "This green field project with deep water location would be important in terms of capacity and linkage creation."

Ernst & Young has been signed to assist SKIL in the fund raising for the project.