Contract on condition that ABG will absorb financial risks linked to ongoing Haldia Bulk Terminals dispute.

The Board of Kolkata Port Trust (KoPT) on Thursday awarded a Letter of Intent to ABG Ports Ltd for container handling at No. 5 Netaji Subhas dock at Kolkata port.

The contract was awarded on condition that the company should take responsibility of financial impacts if any arising out of the current dispute over ABG-promoted Haldia Bulk Terminals Private Limited. KoPT is in a legal tussle with HBT for early termination of contract at Haldia Port.

“We will issue a conditional Letter of Intent to ABG Ports after the Board agreed. If the company is ready to accept the conditions, we will issue the final contract,” a senior KoPT official told Business Line.

ABG Ports and ABG Kolkata Container Terminal Pvt Ltd had jointly bid the lowest rate of nearly Rs 1,500 for handling a loaded 20 feet container at berth at NS Dock.

(This article was published on November 29, 2012)
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