Bhubaneswar, March 12 (IANS) Dhamra port, a subsidiary of Adani Ports and Special Economic Zone Ltd., paid Rs.73.48 crore as revenue share of the port to the Odisha government on Thursday.
Dhamra Port Company Ltd. (DPCL) director Santosh Kumar Mohapatra handed over a bank document of Rs.73.48 crore to Odisha Chief Minister Naveen Patnaik here, said a release of DPCL.
The money covers the period since the commencement of operation of the port in May 2011 up to September 2014, said DPCL sources.
The company was allowed a moratorium till March 2016, but has started paying its revenue share ahead of the expiry of this period.
As per the Concession Agreement, Dhamra Port Ltd. had to pay a share of five percent of its total revenue earning to the state government, which will become eight percent from the financial year 2016-17, and subsequently increase to 10 percent and 12 percent.
Thus, the share of the state government from the port will further increase in coming years. Dhamra port in Bhadrak district commenced commercial operations with two berths in May 2011.
The port has at present two berths for handling dry bulk cargo and has a 18-km channel with 17.5-metre draft for allowing smooth berthing of cape size and super cape size vessels.
The new promoters of the port, the Adani Group, are keen to expand the facility into one of India's largest ports in the coming years, said the release.
The air quality in the country's capital Delhi is worsening. Due to this, the people of Delhi are
New Delhi Prime Minister Narendra Modi has reached Tamulpur on an election tour of Assam. PM Modi
Five envoys present credentials to president
New Delhi, March 18 (IANS) Envoys of five countries including Maldives and Italy presented thei
Diwali is the most important festival of Hinduism, which everyone eagerly awaits throughout the y
ED questioned Rahul Gandhi for the second consecutive day on Tuesday in the National Herald case.
Turkiye Earthquake: Earthquake tremors again in Turkey, a magnitude 5.5 on the Richter scale
Strong earthquake tremors were felt once again in Turkey on Saturday. Let us tell you that an ear
Prime Minister Narendra Modi appealed to the Bharvad community of Gujarat to adopt natural farmin
US Parliament Speaker Nancy Pelosi is visiting Taiwan. China is very upset about this and is cons
A situation of war had arisen between India and Pakistan in the past few days. Both countries wer
Russia has fired 4,700 more missiles at Ukraine since February, claims President Volodymyr Zelensky
The war between Russia and Ukraine is going on for 10 months. Russia launched its first attack on
