|
A delay in transfer of land by the state government, coupled with the global economic slowdown, has taken its toll on the Reliance group's plans to set up India's biggest port at Rewas, the Economic Times reported.
The company setting up the port is controlled by a Mukesh Ambani group company, Reliance Logistics Investment, and Jai Corp, a company belonging to Ambani's close aide Anand Jain.
These companies hold a combined 65 per cent stake in the project, the Maharashtra Maritime Board owns 11 per cent and the initial promoter, Amma Lines, holds the remaining 24 per cent.
"We can't go ahead with the project unless the (Maharashtra) government gives us the land. For the time being, we have de-mobilised most of the consultants and advisers who were working for the project," a senior company executive said.
The first phase of the Rewas port was estimated to cost over US$1 billion and involved the building of 10 berths with a capacity to handle 55 million tonnes of cargo a year. The project includes a container terminal with capacity to handle 2.6 million TEUs per annum.
CargoNewsAsia
|
Login
