Photo caption: IWAI handed over management of three river terminals in Kolkata and Patna to Summit Alliance Port East Gateway (SAPEGIL).
(Kolkata, India) 5 November 2018, Monday: In the presence of Shipping Secretary, Ministry of Shipping of India Shri Gopal Krishna, the Inland Waterways Authority of India (IWAI) in its first-ever Public Private Partnership (PPP) handed over three terminals i.e. Garden Reach Terminal in Kolkata, and Gaighat and Kalughat Terminals in Patna, to Summit Alliance Port East Gateway (SAPEGIL) on a supply, operate and maintain (SOM) model. Director of SAPEGIL Ashok Chakbraborty officially took over the management of the river terminals from IWAI. This is also the first time for any Bangladeshi company to be awarded management of terminals in a foreign country.
Chairman of Summit Group Muhammed Aziz Khan said, “We feel very privileged to have taken over the management of three river terminals in Kolkata and Patna both as first Bangladeshi company as well as the first PPP with IWAI.”
The Summit Alliance Port East Gateway will have the right to collect user fees as per the tariff rates notified by IWAI for a period of 30 years. Under the revenue sharing arrangement, SAPEGIL will retain 61.70% of revenue and rest to IWAI from the seventh year of operation. SAPEGIL won this work through a global competitive tendering process.
Summit Alliance Port East Gateway is a subsidiary of Summit Alliance Port Limited (SAPL) which is a publicly listed company in Dhaka and Chittagong Stock Exchanges.
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