It had also washed its hands off the fourth container terminal at Jawaharlal Nehru Port Trust, despite making a winning bid, with Port of Singapore Authority as the lead partner.
ABG close to winning bid for container-handling berth at Haldia.
As already reported, citing continued threats to law and order and the security of its staffers, HBT announced on Wednesday that it was no longer bound by its 2010 agreement with the Kolkata Port Trust to run cargo handling operations at Haldia till 2020.
Haldia Bulk Terminals pulled out of 10-year contract for cargo-handling operations, blaming the political climate and "vested interest".
Labour unions bent on preserving jobs, with active help from the political class, is an old story in West Bengal.
The project has been delayed by three years, after a consortium of Port of Singapore and ABG Ports, which had won the bid by offering to share more than 50 per cent of the revenue with JNPT, backed off from the project, citing several reasons.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
The S&P BSE Sensex dropped 207 points to end at 25,230.
Promoters increasing stakes is definitely a positive signal for the market and investors.
Financials were the top losers after sharp gains in the previous session along with ITC
