The Mundra Port and Special Economic Zone Ltd (MPSEZ), the Adani Group-owned ports developer, has emerged as a highest bidder for a green field cargo port project by Kandla Port Trust. Two companies including MPSEZ and IMC, formerly known as the Indian Molasses Company had submitted their bids, which were opened on Friday.
According to sources close to the development, IMC quoted operating revenue share for Kandla Port at 3.3 per cent, while Mundra Port quoted 25.09 per cent operating revenue share. The project is likely to be awarded to the highest bidder for the port, which is to be constructed under the built-operate-transfer (BOT) contract.
However, the board of directors of Kandla Port has reserved the decision of awarding the project and is postponed till next board meeting to be held on January 9.
"The price bids were opened today for the Rs 1080-crore green field project. Two companies, MPSEZ and IMC had submitted bids and MPSEZ has emerged as the highest bidder for the project. But the decision on award of the project will be taken in the board meeting scheduled next month," said a senior official at Kandla Port.
Adani Group officials declined to comment on the bid as the company awaited an official communication with regard to the project from KPT.
The land has been identified for the project, which is to be located about 20 kms away from the existing Kandla Port. "All the necessary statutory clearances including environment clearances have been received for the project and the awardee will be able to start the construction on the 40-hectare site immediately," said the official.
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The port will have a 'T'-shaped jetty with 15 meters draft at the front and 14 meters draft at the back.
The bulk cargo handling terminal, will have a cargo handling capacity of 14 million tonnes per annum.
Kandla port has proposed a 30-year concession period for the port developer with two years for construction phase, while 28 years for operations.