Kandla port to raise Rs 10 billion via ECBs to fund expansion projects

The Kandla Port Trust (KPT) plans to raise Rs 10 billion through external commercial borrowings to fund its capacity augmentation projects. KPT has already appointed SBI Capital Markets as the consultant for the same. Reportedly, 70 per cent of KPT’s projects will be funded through dollar-denominated loans and the remaining through internal accruals. KPT is planning to increase the cargo handling capacity of the port from the present 100 million tonnes (mt) to about 180 mt by 2020. Capacity augmentation projects at the port include the development of Berth Nos. 14 and 16 (at a cost of Rs 2 billion each and a total capacity addition of 4.5 mt), four oil jetties and allied pipeline infrastructure (Rs 1 billion each), a 3.5 mt bunkering facility to handle liquid cargo, and an increase in the capacity of Berth Nos. 13 and 14.