APSEZL seeks to terminate contract for coal terminal at Visakhapatnam port

Adani Ports and Special Economic Zone Limited (APSEZL) has notified the Visakhapatnam Port Trust (VPT) of its intention to terminate the contract of the coal terminal at the port by mutual consent. On October 3, 2020, VPT served a notice to Adani Vizag Coal Terminal for a shortfall in the minimum guaranteed cargo as stipulated in the concession agreement. However, since the force majeure event has exceeded 120 days, Adani Vizag Coal Terminal has served the termination notice to VPT.