The Mumbai bench of the National Company Law tribunal (NCLT) has allowed Adani Ports and Special Economic Zone Ltd (APSEZ) and Gannon Dunkerley & Co Ltd to submit revised bids for debt-laden Dighi Port Ltd after state-run Jawaharlal Nehru Port Trust (JNPT) said it was not agreeable to the modifications suggested by the insolvency court to its lenders approved resolution plan.
On May 8, NCLT...
https://container-news.com/nclt-to-accept-revised-offers-for-dighi-port/
Jawaharlal Nehru Port Trust (JNPT), the number one container Port in the country added another feather to its cap, winning the ‘Best Port of the Year- Containerised’ award at the 4th India Maritime Awards ’19. The Port won this coveted stature midst some of the best Ports in the country, being nominated in the same category.
Commenting on this adulation at the awards, Shri Sanjay Sethi, IAS, Chairman, JNPT said, “We are delighted to win such a high honour at the Awards, as it validates our...
https://container-news.com/jnpt-awarded-4th-india-maritime-awards/
NCLT directs changes to the resolution plan submitted by JNPT
The National Company Law Tribunal (NCLT) order directing modification to the resolution plan submitted by Jawaharlal Nehru Port Trust (JNPT) for the debt-laden Dighi Port Ltd could spell trouble for the ₹853.28-crore deal that was approved by the lenders’ panel and ratified by the insolvency court in Mumbai on May 8.
The NCLT direction pertains to sub-lease deeds and sub-concession agreement signed between Dighi Port and the Veritas...
Deal marks the first purchase of a private firm by a govt-owned firm under IBC
Jawaharlal Nehru Port Trust (JNPT) has won approval from the National Company Law Tribunal (NCLT) to buy debt-laden Dighi Port Ltd for ₹853.3 crore in one of the cheapest deals in the port sector.
On May 8, the Mumbai Bench of the NCLT approved the resolution plan submitted by JNPT, India’s biggest container port, for Dighi Port, marking the first instance of a government-owned company. acquiring a private firm under...
https://container-news.com/jnpt-receives-approval-buy-dighi-port/
Two critical parameters that define the calibre of any Port is its operational efficiency and handling capacity, amongst many other Port- led-functions related to the maritime business. Jawaharlal Nehru Port Trust has systemically invested in enhancing these critical parameters over the three decades and today has not only consolidated its position as the number one container Port in India but also is ranked 28th container Port in the world, and is the only Indian Port amongst the top 30...
Cites delay in getting Central approval for the project, originally proposed to be helmed by JNPT
The Maharashtra Maritime Board (MMB) has started “internal discussions’ on building a new private port at Vadhawan in Palghar district on the public-private-partnership (PPP) model, citing delays in getting Central Government approval for the project, now helmed by state-owned Jawaharlal Nehru Port Trust (JNPT) as a major port.
“JNPT is ready to implement the new port in accordance with the...
https://container-news.com/mmb-seeks-route-to-build-vadhawan-port/
State-owned Jawaharlal Nehru Port Trust (JNPT) has handled 5 million twenty-foot equivalent units (TEUs) this fiscal, becoming the first Indian port to scale the peak.
The milestone comes three decades after JNPT was built as a satellite port to de-congest Mumbai Port Trust with an investment of ₹1,109 crore, of which ₹956.97 crore was loaned by funding agencies, with the World Bank being one of the major contributors.
JNPT has five container terminals, of which four are run by private entities...
Most of the older cargo terminals, run by private firms at Centre-owned major port trusts under a restrictive rate regime finalized in 2005, are set to win “substantial tariff hikes” after the Government framed new rules that alters the way rates are computed.
The rate hikes will incentivise some of these terminals including the Nhava Sheva International Container Terminal (NSICT) run by Dubai’s DP World at Jawaharlal Nehru Port Trust (JNPT) to start handling more containers than the minimum...
https://container-news.com/relief-for-older-bot-cargo-terminals/
Union Minister for Road Transport, Highways and Shipping, Nitin Gadkari, on Sunday, Feb. 17 said that alongside the process of developing Jawaharlal Nehru Port Trust (JNPT), the progress of the Konkan region and people must also take place.
Unveiling the Shiv-Samarth statue at Dastan Phata at JNPT on Sunday in the presence of Chief Minister Devendra Fadnavis, and Union Minister for Heavy Industries and Public Sector Enterprises, Anant Geete, Mr. Gadkari said that at least 1.25 lakh jobs will be...
https://container-news.com/developing-jnpt-generate-more-jobs/
In a clear indication that the beleaguered container freight station (CFS) business is back on track, Allcargo Logistics Ltd has leased space in a CFS near the Jawaharlal Nehru Port Trust (JNPT). This is the company’s third such facility in the country’s busiest container port.
Mumbai-listed Allcargo’s move coincides with the decision of Swastik Enterprises Ltd, the entity that runs the CFS — Speedy Multimodes Ltd — to back out of its earlier decision to terminate the operation and management...