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Reliance Industries' (RIL) plan to build a . 5,000-6,000-crore port project at Rewas, Maharashtra, and its ambition to build a liquefied natural gas (LNG) import facility have been put on hold, said Niraj Ambani, president, logistics, RIL, to ET.
"The Rewas port is part of the Maha Mumbai SEZ project that is awaiting regulatory clearances for land acquisition. So for now, the Rewas Port project is on hold," said Mr Ambani.
Reliance Logistics and Ports, a unit of RIL, holds a 55% stake in Rewas Ports — the company formed to develop and operate an all-weather deep draught port at Rewas — while Jai Corp (owned by Mukesh Ambani's close aide Anand Jain) has a 10% stake and Amma Lines holds 24%. The rest is held by the Maharashtra Maritime Board.
The first phase of the Rewas port was estimated to cost over . 5,000 crore and involved the building of nine berths with a capacity to handle 66 million tonnes of cargo a year. In February this year, the Maharashtra government ended its land acquisition process for the proposed Maha Mumbai Special Economic Zone, putting a spanner in the development of one of India's biggest SEZ plans.
The state issued a government resolution de-notifying the land acquisition process for the SEZ, clearly indicating that it would not acquire any more land for the SEZ. All the land acquired by the government in the past for the SEZ was also to be returned. The SEZ was planned across 10,000 hectares and land in 83 villages of the Pen, Panvel and Uran talukas in Raigad district were to be acquired. Niraj Ambani was talking to ET as a part of a pre-event interaction for the upcoming India SCM Logistics Summit to commence on April 28, 2011.
Mr Ambani also said that RIL's plan to build a $1.2-billion LNG import terminal on either the east or west coast to meet the demands of its refineries and petrochemical plants have had been put on the back-burner. "We are still to take a final decision on that project and no concrete plans are in place till now," he added.
Sources say RIL had initially planned to set up an LNG import terminal in 1997 but then dropped plans for a 5-milliontonne-per-annum port terminal at Jamnagar and a plant for its re-gasification. Experts say that the critical reason behind RIL wanting to build an LNG terminal was its inability to use the natural gas it produced from the eastern offshore KG-D6 field for its refineries in Jamnagar. Reports also suggest that RIL had signed a two-year contract with Hazira LNG to import spot LNG from April 2011 onwards, a claim denied by Ambani. "I am not aware of any such contract," he said.
Losing Steam?
• Rewas port is part of the Maha
Mumbai SEZ project that is awaiting regulatory nod for land acquisition
• Reliance Logistics and Ports holds
55% in Rewas Ports while Jai Corp holds 10% and Amma Lines 24%
• The first phase of the Rewas port
was estimated to cost over . 5,000 cr
• RIL had initially planned to set up
an LNG import terminal in 1997 but then dropped plans for a 5 mtpa port terminal at Jamnagar
"The Rewas port is part of the Maha Mumbai SEZ project that is awaiting regulatory clearances for land acquisition. So for now, the Rewas Port project is on hold," said Mr Ambani.
Reliance Logistics and Ports, a unit of RIL, holds a 55% stake in Rewas Ports — the company formed to develop and operate an all-weather deep draught port at Rewas — while Jai Corp (owned by Mukesh Ambani's close aide Anand Jain) has a 10% stake and Amma Lines holds 24%. The rest is held by the Maharashtra Maritime Board.
The first phase of the Rewas port was estimated to cost over . 5,000 crore and involved the building of nine berths with a capacity to handle 66 million tonnes of cargo a year. In February this year, the Maharashtra government ended its land acquisition process for the proposed Maha Mumbai Special Economic Zone, putting a spanner in the development of one of India's biggest SEZ plans.
The state issued a government resolution de-notifying the land acquisition process for the SEZ, clearly indicating that it would not acquire any more land for the SEZ. All the land acquired by the government in the past for the SEZ was also to be returned. The SEZ was planned across 10,000 hectares and land in 83 villages of the Pen, Panvel and Uran talukas in Raigad district were to be acquired. Niraj Ambani was talking to ET as a part of a pre-event interaction for the upcoming India SCM Logistics Summit to commence on April 28, 2011.
Mr Ambani also said that RIL's plan to build a $1.2-billion LNG import terminal on either the east or west coast to meet the demands of its refineries and petrochemical plants have had been put on the back-burner. "We are still to take a final decision on that project and no concrete plans are in place till now," he added.
Sources say RIL had initially planned to set up an LNG import terminal in 1997 but then dropped plans for a 5-milliontonne-per-annum port terminal at Jamnagar and a plant for its re-gasification. Experts say that the critical reason behind RIL wanting to build an LNG terminal was its inability to use the natural gas it produced from the eastern offshore KG-D6 field for its refineries in Jamnagar. Reports also suggest that RIL had signed a two-year contract with Hazira LNG to import spot LNG from April 2011 onwards, a claim denied by Ambani. "I am not aware of any such contract," he said.
Losing Steam?
• Rewas port is part of the Maha
Mumbai SEZ project that is awaiting regulatory nod for land acquisition
• Reliance Logistics and Ports holds
55% in Rewas Ports while Jai Corp holds 10% and Amma Lines 24%
• The first phase of the Rewas port
was estimated to cost over . 5,000 cr
• RIL had initially planned to set up
an LNG import terminal in 1997 but then dropped plans for a 5 mtpa port terminal at Jamnagar
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