- 05 Apr 2022
- ICICIdirect Research
CENTURY PLY INCORPORATES NEW SUBSIDIARY FOR PORTS PROJECT
News: Century Plyboards (India) has incorporated the wholly owned subsidiary company in the name of Century Ports Ltd for carrying out the project for rejuvenation of Khidderpore Docks (KPD-I West) through PPP mode on DBFOT basis at Syama Prasad Mookerjee Port, Kolkata
Views: Century Plyboard had recently bagged the mentioned project, which involves equipping the berths to handle 330,000 containers and 650,000 tons of cargo per annum. The overall project cost is pegged at ~ Rs 200 crore spread over two phases (phase-1: | 95 crore investment over next three years with ~Rs 35 crore expected equity commitment). The company is envisaging Rs 100+ crore, Rs 25+ crore of topline, EBITDA, respectively, at ~90% capacity utilisation. The project is likely to get operationalised in FY25. Nonetheless, Century plans to de-merge its logistics - CFS business over the next 18-24 months
Impact: Neutral