IL&FS is planning to set up a captive port in the district of Cuddalore in Tamil Nadu. The port will be developed and run by Adani Port, say sources. Both IL&FS and Adani Group did not comment on the story.
Sources said Adani Group will construct and run the port. The port project cost is estimated to be around Rs 300 crore. Sources said Adani will construct a captive port to handle coal for IL&FS's power project in Tamil Nadu.
The all weather, deep draft captive port with breakwaters for IL&FS Tamil Nadu Power Company (ITPCL) — which is developing a 3,840 MW thermal power project — is being set up in Porto Novo in Cuddalore District in Tamil Nadu.
The proposed port will handle 15-25 million tonnes per annum (MTPA) of imported coal for the power plant and it will have two coal berths of 600 metre length with breakwaters.
The port site will be located at a distance of 30 km from Cuddalore, 160 km south of Chennai and 500 km north of Tuticorin. The site is endowed with adequate back-up land, sufficient waterfront and draft that facilitates the planned phase-wise development and sufficient built-up capacity of the project.
IL&FS is developing this project, which will be supported by the imported coal-based thermal power project. The phase I of the project will be utilising sub-critical technology, while the phase II will utilise supercritical boiler technology and will source coal from Indonesia/ Australia/ SA, etc.
The project will consist of a dedicated port/ jetty with enabling infrastructure for import of 15-25 million tonnes of coal per annum, along with other plants and machinery.
IL&FS has acquired a mine in Indonesia, which will cater to the coal requirement for this project.
All major clearances including environment clearance from MoEF has been obtained for this project. The debt financial closure for phase I was achieved in December 2009 with a consortium of 19 banks. The power generated will be sold under both long-term power purchase agreement and as merchant power. IEDCL has been appointed as the project development advisor.