FCC

POSCO, JNPT, Adani in race for debt-laden Dighi Port

2018-10-29

Adani-led Adani Ports and Sanjana Jindal-lead JSW Infrastructure have shown an expression of interest (EOI) in the debt-laden Dighi Port. Other than that, two more overseas players along with DP World and South Korean company POSCO and JNPT (Jawaharlal Nehru Port Trust) have bid for Dighi. Located in Raigad district of Maharashtra, the port is being developed by Balaji Infra Projects, under a 50 year concession agreement from the state?s maritime board. While Balaji Infra has 51.01 per cent in the port company, Infrastructure Leasing & Financial Services (IL&FS) and Tara India Fund III has 39.37 per cent and 5.46 per cent, respectively. Of the 30 million tonne installed, only 2 million tonne capacity has been utilised. The debt on Dighi?s books is nearly Rs 16 billion and the Bank of India is the lead lender.