November 6, 2020: Adani Ports and Special Economic Zone Ltd (APSEZ) has signed a 30-year deal to handle crude imported by Hindustan Petroleum Corporation Ltd (HPCL) for its upcoming refinery and petrochemical complex in Rajasthan’s Barmer district.
APSEZ did not disclose the value of the deal.
Rajasthan Refinery Ltd is a 9 million tonnes per annum (mtpa) refinery and petrochemical project being constructed by HPCL with an investment of ₹43,129 crore. The crude imported by HPCL for the plant will be handled at Mundra port in Gujarat, the flagship port of APSEZ and India’s biggest commercial port by volume handled.
In the September quarter, the crude cargo handled by Mundra port grew 76 per cent on the back of higher imports by Indian Oil Corporation Ltd and HPCL-Mittal Energy Ltd.
Crude cargo accounted for 4.38 per cent of the 36.13 mt of cargo handled by Mundra during the second quarter of FY21, according to an investor presentation of APSEZ. In the first quarter, it had accounted for 2.5 per cent of the 25.75 mt of cargo.
Crude cargo accounts for 12 per cent of the overall cargo handled by APSEZ across its portfolio of 10 ports.
Source: Business Line
