THIRUVANANTHAPURAM, 14-Apr-07: The Kerala Government will hold a meeting of prospective investors for the Vizhinjam International Transhipment Terminal here on Tuesday.

Minister for Law and Ports M. Vijayakumar said nearly 30 companies, including 10 foreign companies, would attend the meet.

The meet was a prelude to calling of global tenders for the project. The views of the participants would be elicited before the tender notification was issued.

The Minister said Russian company Rosoboron and foreign consortia were among those who had confirmed their attendance. The Russian Ambassador had held discussions with Chief Minister V.S. Achuthanandan about Russian participation in the tender.

Infrastructure

Mr. Vijayakumar said the Government had taken steps to develop infrastructure for the port such as roads, water supply and power.

He said the port, once completed, would be able to handle all transhipment jobs for the country.

India was losing Rs.1,000 crore a year because it did not have transhipment terminals with the required deep-sea transhipment capacity.

He said the contract could not be awarded earlier as the Chinese consortium that successfully bid for the project could not get security clearance.

This time, security clearance would be included as a condition for the bid.

Source: The Hindu