Comments
The Chennai Port Trust has rejected the bid of the Mundra Port and Special Economic Zone to develop the Rs 3,700-crore mega container terminal project at Chennai port on the ground that revenue share of 5 per cent offered by the company was too low. The company was the only bidder for the project.
A re-bid is now being planned to give another opportunity for those companies who participated in the project's request for qualification stage, said Mr Atulya Mishra, Chairman of the port trust.
Mundra Port, India's largest private port and special economic zone, increased its revenue share for the project to 5 per cent from the initial 1.5 per cent. However, even this was rejected by the port trust's board, which met today. The board felt that even the 5 per cent was too low, and should not be acceptable, he said.
“We will call for a meeting with the pre-bid participants in a month,” he said.
The project is proposed on a build, own and transfer basis with cost of dredging, floating crafts and navigational aids — costing Rs 561 crore — to be borne by the port trust. The private operator will invest on berth and breakwater construction, reclamation of backup area, handling equipment and other landside infrastructure costing Rs 3,125 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.