Company History: We were incorporated as Gujarat Adani Port Limited on May 26 1998 and commenced phased operations at Mundra Port in October 1998 with commercial operations beginning in October 2001. We were initially promoted by Adani Port Limited and Gujarat Port Infrastructure Development Company Limited an undertaking of the Government of Gujarat.We entered into a Concession Agreement with the GMB and the Government of Gujarat on February 17 2001 pursuant to which we have been granted the right to develop and operate Mundra Port located at the Navinal Island in the Kutch region for a period of 30 years.
Pursuant to an order of the High Court of Gujarat Adani Port Limited merged with us with effect from April 1 2003. Further MSEZ and ACL were merged with us with effect from April 1 2006.
We received approval as a developer of a multi-product SEZ at Mundra and the surrounding areas from the Government of India on April 12 2006. We have already received notification from the Government of India with respect to land covering 2 406.8 hectares (approximately 5 947 acres) on June 23 2006. On July 3 2007 we received a subsequent notification with respect to an additional 251.4 hectares of land resulting in a total of 2 658.2 hectares (approximately 6 568 acres). Such notification is granted only once land is in the possession of a developer and as we further acquire land in and around Mundra we will look to receive additional notifications in relation to such further acquired land.
In order to reflect the significance of the SEZ status and the changing nature of our business we changed our name from Gujarat Adani Port Limited to Mundra Port and Special Economic Zone Limited with effect from July 7 2006.
Key Events and Milestones
Year Month Key Events and Milestones
1994 January Approval from GMB to set up captive jetty
1998 October Berths 1 and 2 become operational
1999 October Berths 3 and 4 become operational
2001 February Concession Agreement signed with GMB
2001 October All 4 berths and mechanisation become fully operational. Trial rail operationscommenced
2002 May Agreements signed with GGSRL to set up SPM
2002 October Agreements signed with IOC to set up SPM
2002 November Railway agreements signed
2003 January Sub-concession agreement signed with MICT for the container terminal
2003 July Container terminal becomes operational
2004 April Shareholders agreement with Kutch Railway Company Limited
2005 June Merger of Adani Port Limited (with effect from April 1 2003) with us
2005 December SPM becomes operational
2006 April Notification as a SEZ
2006 May Additional 10 bulk berths operational
2006 June Double stack train operations
2006 April Merger of MSEZ and ACL with us
2007 March Operation started at Terminal II
2007 August Operation started at Container Terminal II
