Himalayan Terminals Pvt Ltd (HTPL) and Nepal Intermodal Transport Development Board (NITDB) signed a supplementary agreement for managing the Sirsiya dry port (ICD) in Parsa, on Thursday.
Executive director Sharad Bikram Rana and HD Gujarati signed the agreement on behalf of NITDB and HTPL, respectively. Three years ago, the government has given the dry port to HTPL on lease for Rs 940 million for a period of 10 years. HTPL has, however, repeatedly, urged the government to review the lease agreement saying it has been incurring loss.
Under the reviewed agreement that will be effective for three years, HTPL will have to pay NITDB Rs 40 million for the first year, Rs 45 million for the second year and Rs 50 million for the third year.
Apart from this, HTPL will have to pay Rs 2,200 revenue — for 14,100 containers for the first year, 17,200 containers for the second year and 20,200 containers for the third year — for each container. Similarly, HTPL will also pay Rs 2,14,000 for the first year, Rs 2,37,000 for the second year and Rs 3,41,000 for the third year as revenue that is at Rs 19 per metric tonne for the open cargo.
They will decide — after two-and-a-half years — on either to continue the agreement for the rest of the four years or not. "For the remaining four years, we may sign another agreement after extensive discussion between the two sides," said Rana. He said that HTPL has agreed to pay the first instalment of Rs 70,000 — out of the total due rent of Rs 60.29 million — within a week. "It will furnish a bank guarantee for the remaining amount," he informed, adding that failure in paying the due amount within three years will attract 5.5 per cent interest per annum.
Meanwhile, contractors in Bhairahawa and Biratnagar have expressed resentment over the agreement review with HTPL.
According to a Commerce Ministry official, they also want their agreement to be reviewed. "If HTPL can have supplementary agreement, why not others," they said, adding that they also want their old contract reviewed as they are also incurring losses.
Last year, HTPL handled 12,000 containers and earned Rs 45 million but after paying Rs 52 million rent, it had incurred a loss of seven million rupees.
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