Core businesses
Ports
Developing Smart Ports And Natural Gas Solutions
Aligned to the Founder’s directive of celebrating centenary in 2084, a strategic thinking team of the Group was set-up in the summer of 2018 in London & Dubai working directly with Dr. Ravi K Mehrotra. The team was assigned to identify sectors that are adjacent to our core (offshore & shipping) to provide long term sustainability, value creation and aligned to India’s long term economic growth as a commercial superpower in the world.
It will not only meet India’s growing long-term need for natural gas in its energy mix to support the cause of climate change, but will also become a great value addition to the society, stakeholders, environment and an overall growth of the organization.
Strategic Partnership
Driven by our values, the first step was to identify strategic partners who have shared values of long term, multi-generational commitment for the development of an enterprise with relevance to society and can also bring international & local expertise to ensure success of the project.Development Of Bhavnagar Port
Thus, a joint venture company Bhavnagar Port Infrastructure Pvt Ltd was formed with Mumbai based Padmanabh Mafatlal Group, one of India’s most respected and successful business family with over 100 years of industrious heritage.
The Group after a detailed project assessment identified Bhavnagar – Gujarat as the site for developing the Port. The Group also finalized technical collaboration with Royal Boskalis Westminster N.V., the world’s leading port and marine infrastructure development company.
In 2020, the Foresight Group-led consortium received an approval for development of multipurpose brownfield port infrastructure including the world’s first CNG Import Terminal at Bhavnagar Port in the state of Gujarat, India on BOOT (Build, Own, Operate and Transfer) basis for 30 years with a 25-year roll over option.
With an eye towards operational flexibility and expandability in future, the development of Bhavnagar port is envisaged to have state of the art-facilities for deep draught vessels such as Post-Panamax, VLGCs and alike along with one of the world’s widest tidal Lock-gate arrangement.
The port will be poised to handle the in-demand cargo at macro-level, especially container ships, for the northern-hinterland of India. The port is planned to cater clean cargo and has earmarked dedicated berths for the Containerships, LPG/Chemical, CNG/Ro-Ro, a Multi-purpose berth for cargoes such as Edible Oil and Fertilizers to name a few.
The phase-wise project construction is expected to begin in 2022, after obtaining necessary approvals and clearances. Phase I is expected to commence operations by 2025.
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