News Karnataka
Wednesday, October 05 2022
Business News

Bengal to give Adani Group LOI for Tajpur port development

Photo Credit : IANS

Kolkata: The West Bengal government will soon hand over a letter of intent (LoI) to Adani Port & SEZ Limited for setting up and developing a deep-sea port at Tajpur in the East Midnapore district. The estimated cost of the project is Rs 25,000 crore.

The state cabinet on Monday approved the proposal for issuing the LoI to Adani Ports and Special Economic Zone for the development of the greenfield deep sea port.

State municipal affairs & urban development minister and Kolkata Mayor, Firhad Hakim, said the proposal has been cleared by the state cabinet. “The project will entail a direct employment potential for 25,000 individuals,” said Hakim.

Tajpur port development was under discussion since the time of Bengal Global Business Summit-2022, the annual event of the state government to showcase the state as an ideal business destination, which was conducted early this year.

The major contender in the bidding for the project was Adani Port & SEZ Limited and JSW Infrastructure. After the bid was opened on March 23 this year, Adani Port emerged as the highest bidder. The land for the project is being provided by the state government, informed Hakim.

On April 20, while addressing the Bengal Global Business Summit-2022 this year, Adani Group chairman and founder, Gautam Adani said that his group will invest an amount of around Rs 10,000 crore in West Bengal in the next few years.

“We plan to make an investment to the tune of Rs 10,000 crore in West Bengal in the next few years. This investment will be mainly in sectors like under-sea cables, data centres and warehouses. This will provide direct and indirect employment to around 25,000 people. As we make these investments, we will bring in the state world-class technology,” Adani said.

Since then, state commerce & industry sources said dialogues between the state government and Adani Port started over the latter taking charge of setting up and developing the port. Earlier in February this year, Gautam Adani’s son, Karan Adani met West Bengal Chief Minister Mamata Banerjee at the state secretariat of Nabanna. Then Karan Adani, who is the chief executive officer of Adani Port & SEZ Limited evinced interest in the development of Tajpur Port.

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