Adani Group initiates environmental studies for Tajpur Port

The Adani Group is gearing up to launch environmental studies for the establishment of the Tajpur deep sea port during the forthcoming monsoon season. The revelation was made by Adani Group's CEO (ports), Subrat Tripathi, during discussions with reporters on the sidelines of a roadshow leading up to the Global Maritime India Summit, scheduled in New Delhi from October 17 to 19, 2023.In the midst of recent uncertainties surrounding the Adani Group, including a notable decline in the group's listed firms' value amounting to over $70 billion since a report by US short-seller Hindenburg Research flagged concerns about high debt levels, the CEO affirmed the group's commitment to the $250 bn deep sea port project in Bengal. Tripathi reiterated that funds had been allocated for the development of the Tajpur port, hinting at his discussions with senior state officials to advance the project.Regarding the latest project status, Tripathi conveyed that the company is awaiting the Letter of Agreement (LOA) from the Bengal state government. The Bengal government is currently engaged in obtaining essential security clearances for the proposed port from ministries, including defence and others. We have the Letter of Intent (LOI). Now, we need the LOA. Once we receive the LOA from the Bengal government, we can initiate the process for securing environmental clearances, which requires commencing studies. Our aim is to initiate these studies during the upcoming monsoon season, Tripathi explained.Karan Adani, Director of Adani Ports and Special Economic Zones, had received the LOI for the port in the presence of Chief Minister Mamata Banerjee in October of the previous year. He later revealed that the group plans to apply for environmental clearances for the project. Despite challenges, the Adani Group remains committed to the Tajpur port's development and is actively navigating the necessary regulatory processes to ensure its realisation.