Shares of Adani Ports & Special Economic Zone Ltd. are trading lower by a percent on Wednesday, November 22. Uncertainty has emerged over the Letter of Award that was granted to the company for the development of the Tajpur Port in West Bengal.

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The West Bengal Government had cleared the Letter of Award to Adani Ports in October 2022.

In an exchange filing on October 12, 2022, Adani Ports had said: "The company has received a Letter of Award from West Bengal Industrial Development Corporation Ltd, Kolkata for development of a deep-sea port at Tajpur, West Bengal on Design, Build, Finance, Operate and Transfer basis."

Karan Adani, CEO of Adani Ports had received the letter. "We're poised to build not just a port but a complete infrastructural ecosystem which will become a maritime gateway for the entire Eastern India," he had tweeted after receiving the letter.

However, West Bengal Chief Minister Mamata Banerjee, at the Bengal Business Summit on November 21 said that interested parties could bid for the Tajpur Port.

"There is a proposed deep sea port at Tajpur. That is ready. You can participate in the tender. It will attract an investment of about ₹25,000 crore," she said.

CNBC-TV18 has reached out to Adani Ports over the issue and is awaiting a comment from the company.

(Edited by : Amrita)

First Published:Nov 22, 2023 3:06 PM IST