JNPA, GTI enter into new agreement
News: As per media sources, Jawaharlal Nehru Port Authority (JNPA) and Gateway Terminals India Pvt Ltd (GTI), have signed a settlement agreement to end a decade old tariff dispute mediated by the newly formed Conciliation and Settlement Committee (CSC). GTI is 74% owned by A P M Terminals (parent entity of Gujarat Pipavav) and 26% owned by Concor.
Views: As per the settlement, surplus earned by GTI over and above permissible returns from 2006-10, will be distributed between GTI and JNPA in the ratio of 35:65. In return, GTI will continue to levy terminal charges which prevailed in erstwhile regime (erstwhile regulator had cut its tariff by 44.28%, against which GTI secured a stay in Bombay High Court)