ITD Cementation bags contract worth Rs 2,168cr for JNPT terminal

Mumbai: Engineering company ITD Cementation today said it has received Rs 2,168 crore order for carrying out the dredging and reclamation works for the 4th container terminal at the country’s largest port JNPT.

The Mumbai-based company, which has been working at the Jawaharlal Nehru Port Trust since 1994, was awarded the contract by Bharat Mumbai Container Terminals, a subsidiary of the port developer, PSA Singapore, ITD said in a statement.

This is the biggest single order win for the EPC company and takes its total order book up to Rs 6,800 crore.

Reacting to the announcement, the company stock rose 15.43 percent to Rs 589 on the BSE, as against a 0.38 per cent slide in the 30-share Sensex in the afternoon trade.

After a controversial re-bid, PSA was awarded the Rs 8,000-crore contract to build the fourth terminal at JNPT earlier this month. The company is expected to deliver the phase-I of the project by 2018 and the concession period is valid for 30 years.

The port has to have a draft of 16.5 meters, which will be ensured via the dredging works, while the marked area will also have to be reclaimed, a senior company official said.

ITD Cementation will be carrying out the reclamation work for the 1-km long berth by itself while it will be hiring the services of an international specialist for the dredging work, the official added.

Once fully complete, the project will add 4.8 million TEU or standard units capacity to the JNPT’s existing 2.4 million TEUs. Phase-I will have three berths and will be spread over 90 hectares.

PTI