News / MegaProject 179: PSA International wins $1.3billion Indian port project

MegaProject 179: PSA International wins $1.3billion Indian port project

🕔 February 25, 2014

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PSA International of Singapore, fully owned by Temasek Holdings, has won the right to build and operate India's largest container terminal, the Jawaharlal Nehru port (JNPT) fourth terminal.

PSA's offer of 35.7% revenue share was the highest for the Rs80 billion (US$1.3 billion) fourth container terminal. The company beat out competition from Adani Ports & SEZ, who offered 29% revenue share.

Adani Ports recently won the concession to operate a container terminal in Ennore offering a revenue share of 29%.

Five other companies, Dubai Port WorldAPM Terminals, Sterlite Ports, United Liner Agencies and International Container Terminal Services (ICTSI) had qualified to bid for the JNPT terminal.

The project will be developed on a design, build, finance, operate, transfer (DBFOT) basis.

This is the second time that PSA wins the concession for the same project at JNPT. The first time, in a consortium with ABG Ports, it had offered a 50.8% revenue share that had stunned port analysts. Later, the consortium was unable to finance the project and requested to withdraw in September 2012.

The fourth terminal at JNPT will have a capacity of 4.8 million TEUs and a berth of 2 km in length which will make it one of the largest in the country. The project is expected to reduce the capacity constraints at the port as it operates at more than 100% of its capacity.

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