{"id":89760,"date":"2023-02-13T10:57:00","date_gmt":"2023-02-13T05:27:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=89760"},"modified":"2023-02-13T10:56:00","modified_gmt":"2023-02-13T05:26:00","slug":"biz-adani-ports-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-adani-ports-2\/","title":{"rendered":"Committed to Tajpur Port, waiting for formalities from Bengal govt: Adani official"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-230757132\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Adani Ports &amp; SEZ Ltd (APSEZ) remains committed to Rs 15,000 crore deep-sea port project in Tajpur, West Bengal and the company is waiting for completion of statutory formalities, such as the draft concession agreement from the state, a top official of Adani Group said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3752395965\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Once the formalities are complete, APSEZ will work towards developing the port as per its plans and timelines, the official added.<\/p><p>&#8220;We remain committed to Tajpur deep-sea port and&nbsp;awaiting the statutory requirements from the state, associated with the project,&#8221;&nbsp;the official said when contacted but declined to be identified.<\/p><p>The comments come against the backdrop of a crisis in Adani Group companies following a report by US short-seller Hindenburg Research published last month. Adani Group stocks have taken a beating on the bourses after Hindenburg made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.<\/p><div class=\"trade-content_5\" id=\"trade-3347723056\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The report raised concerns about the high levels of debt at the ports-to-energy conglomerate and accused the group of using offshore entities in tax havens to manipulate its companies. Adani Group has categorically denied these allegations.<\/p><p>Letter of Intent and Draft Concession Agreement are the formalities that the West Bengal government has to fulfil before the company can start work on the project.<\/p><p>The state government is very supportive and they have guided the company in every step, the official said.<\/p><p>Adani Ports incorporated a wholly-owned subsidiary named Tajpur Sagar Port in October last year for the purpose of developing a deep-sea port at Tajpur. The port is among the key infrastructure projects for the economic development of the state.<\/p><p>Attempts to get reaction from the state government on the issue did not elicit&nbsp;any response.<\/p><p>The West Bengal government had handed over the Letter of Award for the development of the port to Karan Adani, CEO, APSEZ at a post-Durga puja event in 2022 hosted by the state government in the presence of Chief Minister Mamata Banerjee, Industry Minister Shashi Panja, Chief Secretary H K Dwivedi, and Industry Secretary and West Bengal Industrial Development Corporation Chairman Vandana Yadav.<\/p><div class=\"trade-content-10\" id=\"trade-1381024815\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Business chambers in Kolkata also remained optimistic and touted the current crisis as a short-term issue.<\/p><p>Tajpur Port is a major project that will have a multiplier impact on the state&#8217;s economy and Adani Group will move ahead with it, MCC president Namit Bajoria said recently.<\/p><p>The port is located near Tajpur in the Purba Medinipur district, about 200 km from Kolkata.&nbsp;It will have a deep draft of 12.1 metre and a channel length of 18 kilometre. This draft will allow the port to accommodate large capesize ships, which are the largest class of dry tonnage (DWT) cargo vessels.<\/p><p>A tidal support of 3.9 metre gives a net draft of 16 metre.<\/p><p>The port will create direct employment opportunities for 25,000 people and around one lakh indirect jobs, officials said. Total investment&nbsp;, including associated&nbsp;&nbsp;infrastructure of connectivity to the port will be Rs 25,000 crore. PTI BSM ANU ANU<\/p><div class=\"trade-after-content\" id=\"trade-3852702769\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Adani Ports &amp; SEZ Ltd (APSEZ) remains committed to Rs 15,000 crore deep-sea port project in Tajpur, West Bengal and the company is waiting for completion of statutory formalities, such as the draft concession agreement from the state, a top official of Adani Group said. Once the formalities are complete, APSEZ will work towards developing [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":20363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-89760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Committed to Tajpur Port, waiting for formalities from Bengal govt: Adani official - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Adani Ports &amp; SEZ Ltd (APSEZ) remains committed to Rs 15,000 crore deep-sea port project in Tajpur, West Bengal and the company is waiting for completion of statutory formalities, such as the draft concession agreement from the state, a top official of Adani Group said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-adani-ports-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Committed to Tajpur Port, waiting for formalities from Bengal govt: Adani official\" \/>\n<meta property=\"og:description\" content=\"Adani Ports &amp; SEZ Ltd (APSEZ) remains committed to Rs 15,000 crore deep-sea port project in Tajpur, West Bengal and the company is waiting for completion of statutory formalities, such as the draft concession agreement from the state, a top official of Adani Group said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-adani-ports-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-13T05:27:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Adani-Ports-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Adani-Ports-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-adani-ports-2\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-adani-ports-2\/\",\"name\":\"Committed to Tajpur Port, waiting for formalities from Bengal govt: Adani official - 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