Financial Daily from THE HINDU group of publications
Wednesday, Jan 30, 2002
Corporate - Alliances & Joint Ventures
Licence agreement on Haldia berth signed
Mr Swapan Chakrabarti (left), Deputy Chairman, Haldia Dock, exchanging licence agreement documents with Dr T. Mukherjee (extreme right), Deputy Managing Director, Tata Steel, in the presence of Mr H.P. Roy (centre), Chairman of Kolkata Port Trust. The signing of the agreement over allotment of Berth No. 12 of Haldia Dock took place at Haldia on Tuesday.
HALDIA, Jan. 29
A LICENCE agreement between the Kolkata Port Trust and TM International Logistics Ltd (TMILL), a joint venture between Tata Steel and IQ Martrade & Holding & Holding GmbH of Germany, was signed here on Tuesday.
The equity capital of the joint venture company is Rs 18 crore, and is subscribed to by Tisco (51 per cent) and IQ Martrade (49 per cent).
As per the agreement, drawn up on the basis of IDFC (Infrastructure Development Finance Corporation) documents approved by the Union Government, the port will allot the Berth Number 12 of Haldia dock, together with 14,000 sq.m. of back-up area, to TMILL on a licence basis for a period of 30 years.
Dr T. Mukherjee, Deputy Managing Director of Tisco, signed the agreement on behalf of TMILL and Mr Swapan Chakraborti, Deputy Chairman in-charge of the Haldia dock, on behalf of Kolkata Port Trust.
Among others, Mr H.P. Roy, Chairman of KPT, and Mr Guenther Hahn, Chairman and Managing Director of IQ Martrade, were also present.Addressing newspersons at the end of the signing of the agreement, Dr Mukherjee said Tisco would like to concentrate on Haldia and the joint venture company would help it to achieve efficient port operations.
As per the agreement, TMILL has guaranteed a minimum throughput of 0.45 million tonne from the fourth year and 0.6 m.t. thereafter. Right now, the company will handle only Tisco's cargo, but in due course it might consider handling cargo of other companies, including SAIL.
Mr H.P. Roy felt the success of the leasing agreement with TMILL in respect of Berth No.12 at Haldia would pave the way for many such agreements in future. He hoped new performance parameters would be achieved in port operations.
Mr Hahn said his company had already teamed up with another Indian company and had bid for Berth No. 11 at Haldia dock for handling containers..
Mr Swapan Chakraborti said the allotment of Berth No. 12 to TMILL was a win-win situation for all. The company would be free to use its own labour.
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