Home » KoPT limits extension may hit financial closure

KoPT limits extension may hit financial closure

KoPT limits extension may hit financial closure

After the Orissa government and Dhamra Port Company Ltd (DPCL), which had gone out on the offensive agai­nst Kolkata Port Trust (KoPT) for unilateral extension of the port limits, now the developers of upcoming minor ports at Chudamani and Subarnarekha have opposed the move. These minor port developers have pointed out they may not be able to achieve financial closure as banks have raised doubts about their future operation given the recent development relating to extension of KoPT limits.

The shipping ministry is understood to have decided ag­ainst taking the legal route for settling the dispute over territorial sea waters between the governments of West Bengal and Orissa.
The Orissa government had raised the issue after KoPT had intended to locate a transloading facility near the coastal waters of Orissa, threatening the business of Dhamra port. Dhamra Port has an exclusivity agreement with the Orissa government, according to which no other port facility can be created within 25 km.

Comments

Leave a Reply