Petronet join hands with Adani for new port project

New Delhi: Petronet LNG Ltd (PLL) on Friday signed a joint venture agreement with the Adani Group for setting up a solid cargo port at the Dahej SEZ.

The joint venture has already been incorporated as Adani Petronet (Dahej) Pvt Ltd, in which the initial equity ratio would be 50:50.

The two phases of the project are likely to cost around Rs 1,150 crore, with debt-equity ratio of 70:30.

The project is likely to be completed within 36 months, Petronet LNG said in a statement.

The solid cargo port would have the facilities to import and export coal, steel, and fertilisers.

The first phase would include one berth; the second phase would see two additional berths and full mechanisation of the port.

Land for the project has already have identified in Dahej SEZ next to PLL's LNG terminal.