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July 22, 2024

JM Baxi Ports and Logistics set to win auction at JN Port

It is anticipated that the state-owned Jawaharlal Nehru Port Authority’s shallow water and coastal ports will be operated by JM Baxi Ports and Logistics, a division of the Mumbai-based JM Baxi Group (JNPA).

According to several sources, including a representative from the Jawaharlal Nehru Port Authority, JM Baxi Ports and Logistics submitted the highest proposal of Rs 84.4 per tonne of cargo handled at the ports when the pricing bids were published on Friday.

The winner of a 30-year port tender at a major port (managed by the Centre) is the party willing to share the greatest royalty per tonne of cargo handled at the berth with the port authority.

The wholesale pricing index (WPI), a cost indicator, will increase in lockstep with the amount of royalties due. The terminal operator will be entitled to choose market rates in accordance with the new Major Port Authorities Act and the model concession agreement (MCA).

In recent months, J M Baxi Ports and Logistics has earned two contracts at Jawaharlal Nehru Port, bringing its total number of contracts at major ports to three.

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