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Adani Ports signs pact with IPGA to handle pulses at its ports.

Date: 21-10-2015
Subject: Adani Ports signs pact with IPGA to handle pulses at its ports
As prices of pulses sky-rocketted to a record-high of Rs 200 per kg, Adani Group firm on Monday day inked a pact with India Pulses Grains Association (IPGA) to handle the commodity across its ports to ensure smooth and cost efficient availability of lentils across the nation.

“Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer, today said it has signed a Memorandum of Understanding (MoU) with IPGA, to handle pulses across its ports in the country,” Adani Ports said in a statement on Monday.

The pact is intended to help develop a dedicated and efficient supply chain for pulses, using strategically located Adani Ports’ facilities to all key consumption centres in the country, ensuring availability of lentils, it added.

Retail tur dal prices on Monday shot up to Rs 200 per kg despite the government’s steps to boost supply and check prices, aggravating consumers’ woes.

Till last week, tur was available at Rs 185 per kg in the retail market.

“Adani has developed world class facilities for an agricultural marketplace at its ports. We now have the largest dedicated covered warehouse space inside ports for agri goods.

“We also have tied up with partner agencies to provide collateral management and trade finance services at the port itself. Our ports are also ideally connected to the key markets of north, west & central India”, said Captain Unmesh Abhyankar, CEO, Mundra Port.

India imports nearly five million tonnes of pulses annually for domestic consumption, mainly from Canada, Australia and regions around the Black Sea.

Speaking on the development, Pravin Dongre, Chairman, IGPA said, “India’s pulses imports have been increasing every year and the infrastructure at the existing ports are finding it difficult to meet the requirements of the trade.

“The APSEZ Ports at locations like Mundra and Hazira will certainly help in reducing the load on the existing ports as well as allow quick and efficient evacuation of cargo in a cost-effective manner.”

The Adani Group is one of India’s leading business houses with revenue of over USD 10 billion.

Adani owns and operates seven ports and terminals – Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Orissa, Mormugao in Goa and Visakhapatnam in Andhra Pradesh.

The company said Mundra Port, which is the largest port in India, benefits from deep draft, first-class infrastructure and SEZ status.

It crossed the 144 million tonne mark of cargo handling in financial year 2014-15.

Adani Group is also developing a terminal at Ennore in Tamil Nadu and Vizhinjam International Deepwater Seaport in Kerala.

Source : financialexpress.com

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