Adani Group Has Both Ups And Downs

SEZ Permission Denied Due To Narendra Modi Connections?

SEZ Permission Denied Due To Narendra Modi Connections?
SEZ Permission Denied Due To Narendra Modi Connections? | Source

Pact with Kandla Port

Australian Exploration of Coal

Adani group has completed exploration of coal in Australia. Adani is a major player in infrastructure in India and abroad. This is the single biggest and most comprehensive exploration of coal mining ever undertaken in Australia. Adani achieved this monumental exploration task in a record nine months time. It was done in the Galillee basin of Queensland at Carmichael mine. Carmichael mine contains ten billion tonnes of coal and is the largest ever found in the world. The project that Adani undertook was worth $10 billion. The project includes construction of international class rail, port and mine. Adani employed more than two hundred people in the project site.

SEZ Permission Denied Due To Narendra Modi Connections?

Adani Ports & SEZ reported a 25% increase in its total income in Q2 ended 30.09.12 at Rs.792 crore as against Rs.632 crore in the corresponding period of the previous year. Net profit increased by 37% to Rs.430 crore from Rs.273 crore in the same period. Cargo handled increased by 15% to 40.43 million tonnes. Ministry of Commerce, government of India has cancelled the permission for the proposed multi-product SEZ of Adani group in Gujarat spread over an area of 1840 hectares for the violation of norms. The proposal violated contiguity norms. Rules required the SEZ site to be vacant before applying for permission. But Adani group already has an SEZ spread over 6473 hectares and this will not be affected by the cancellation of the proposed SEZ. Rumours say that the Adani group incurred the wrath of the Congress government at the centre due to its proximity with Narendra Modi, Chief Minister of Gujarat.

Pact with Kandla Port

Adani Port has signed a pact with Kandla Port Trust for setting up a bulk terminal for transportation of iron ore and coal. An investment of Rs.1200 crore is involved in the project. The dry bulk terminal will be set up on BOT (Build, Operate and Transfer) basis. It can handle cargo of 19-20 million tonnes and will be ready to operate by 2014. It will be located near Tuna outside Kandla Creek off Tekra. It will be able to handle cargo like fertilizer, coal, minerals, salt and other agri-products. Handling such cargo at Kandla raises issues like barge operations leading to a hike in the cost of handling. Besides, loss of cargo, double handling and lower productivity also result. The new terminal has mechanised and automated processes to handle such cargo efficiently. It will also increase transparency.

Lost a Veteran

Adani Power has lost a veteran Ravi Sharma who has resigned. Sharma was responsible for adding 4300 MW capacity to the company. It made Adani Power the largest private sector thermal power company in India. He was also instrumental in commissioning India’s first private sector High Voltage Direct Current (HVDC). In fact Sharma switched from telecom to power sector and made all these achievements. Sharma had earlier turned around Alcatel Lucent, a telecom company. It was Sharma who transformed the Adani group from a trading group to a major infrastructure player in India. I don’t know why he put in his papers. If it is for moving to a better job and career, it is okay. But if it is due to differences with the Adani group management, then I can say that Adani has lost a bonanza.

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