The Hindu Business Line : Maersk-Concor bid for JNPT box terminal cleared

THE board of trustees of the Jawaharlal Nehru Port Trust (JNPT) has approved the highest revenue share bid of 35.503 per cent submitted by the Maersk-Concor team for building and operating a new container terminal at the premier container port in the country.

"The board of trustees of JNPT passed a resolution on March 15 approving the price bid submitted by the Maersk-Concor consortium. The bid has now been sent to the Shipping Ministry for a final nod," sources said.

A Shipping Ministry official said the successful bidder would be issued a letter of intent after the proposal is cleared by the highest authority.

Apart from the revenue share of 35.503 per cent given by the private operator from its annual operating gross revenues, the port trust will also get lease rentals at the rate of Rs 24 crore per year, which will increase by 5 per cent every year.

"From inception of the private terminal, the Government will get a handsome amount. It is a good deal," the official said.

The Maersk-Concor terminal will be the third container terminal at JN port and the second one to be built with private investments. JN port already has two container terminals: one run by the port trust/government and the second operated by P&O Ports at Nhava Sheva in the port.