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Adani Ports lone bidder for Vizhinjam project

Posted on 25 Apr 2015

Adani Ports and Special Economic Zone Ltd. (APSEZ), country’s largest private multi-port operator, is the sole bidder to build the port superstructure and operate the ambitious Vizhinjam International Multipurpose Seaport project by partnering with the State.

When the five-time extended deadline for submitting the final bid for the ‘Mission 676’ project ended at 5 p.m. on Friday, only the Ahmedabad-based APSEZ had submitted the bid. The port operator has sought Rs.1,635 crore as grant for the seaport project. Of the five major port operating companies and consortia that responded to the global tender floated by Vizhinjam International Seaport Limited (VISL), only Essar Ports, Adani Ports, and a consortium of Srei and OHL bought the Request for Proposal (RFP).

Despite the extended deadline, assurance to relax the cabotage law, Rs.818 crore (20 per cent) Viability Gap Funding (VGF) from the Centre and Rs.600 crore in the State budget 2015-16 for the seaport project, only the APSEZ submitted the RFP, and that too on Friday.

VISL Managing Director and CEO A.S. Suresh Babu told The Hindu that evaluation by transactional advisers Ernest & Young and financial advisers Hemanth Sahayi Advocates has commenced.

Source : The Hindu