Emerges the highest bidder with a royalty quote of Rs1,900.44 per teu when the price bids were opened this Thursday.

JM Baxi Ports & Logistics is set to win the rights to run a container terminal at state owned V.O. Chidambaranar Port. Dhruv Kotak led JM Baxi Ports & Logistics placed a price bid of Rs.1900.44 per teu on a tender for converting a bulk cargo berth at the port into a container terminal with private funds. This is the second contract bagged in a month by JM Baxi Ports & Logistics, following a tender for the container terminal at JNPA.

The contract win will boost the valuation of JM Baxi Ports & Logistics ahead of an IPO for shares.

J M Baxi Ports & Logistics runs container terminals at Visakhapatnam port, Deendayal Port (Kandla), Haldia Dock Complex, a multiple purpose terminal at Paradip Port, container freight stations, inland container depots, bulk logistics, rail logistics (container trains), cold chain logistics and heavy project logistics.

In FY22, J M Baxi Ports & Logistics handled about 1.6 million TEUs and about 15 million tonnes (mt) of cargo, across its facilities located on India’s western and eastern coasts.

Source : maritimegateway