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Shree Renuka Sugars (SRS) has bagged a project to operate a captive berth in Kandla Port with a capacity of 1.5 million tonne a year.
The letter of award was issued to SRS on December 27, Shipping Ministry sources said.
This was after Cabinet clearance for handing over the requisite land in Kandla port to SRS for operating the facility.
The company expects to start operating the captive jetty in a year, Narendra Murkumbi, Managing Director, SRS, said.
“The captive jetty will help us handle larger vessels, Panamax size, and help lower the transportation costs,” he added.
In 2011, SRS had commissioned a sugar refinery near Kandla port in the West coast. The capacity of the refinery is 3,000 tonnes a day and co-generation capacity is 45 MW.
The facility will help SRS handle raw sugar, refine it to finished sugar at its Kandla refinery facility, and export it.
The company expects to handle about one million tonne of raw sugar and about 2.5 lakh tonne of coal to fuel its facilities, Murkumbi said.
The capacity creation at port will require investments of Rs 22 crore.
The refinery will increase SRS’ port-based refining capacity to about 18 lakh tonnes a year.
The company operates a 2,000-tonne-a-day sugar refinery near Haldia port on the East coast.
In September, Kandla had awarded a project to “Grain Bulk Handling” for developing a two million tonne a year capacity facility on public-private partnership basis.
Traffic handled at Kandla port has seen almost 14.76 per cent growth in April-November period of the current fiscal, one of the highest growths registered across ports, supported by higher handling of petroleum products and other agri-products.
On Wednesday, SRS closed at Rs 32.65, up 1.7 per cent against the previous day’s close.
>Vishwanath.kulkarni@thehindu.co.in
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