News / Welspun consortium make revised offer for Vizhinjam port terminal PPP

Welspun consortium make revised offer for Vizhinjam port terminal PPP

🕔 May 9, 2012

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In mid April, the Kerala Government  asked the Welspun consortium, sole bidder for the Vizhinjam port and container terminal project, to put up a revised offer. Sources said that the led by Welspun Infratech consortium would have to rework the financial bid and submit the 'best offer' within a week.The consortium  has told the State Government that it can diminish its request for grant only by Rs 20 crore. In February, the consortium had sought a grant of Rs 479.54 crore over a period of 16 years from the government. The consortium said that it can further reduce its demand by another Rs 20 crore provided it also bags the Engineering, Procurement and Construction (EPC) contract for building the port.Not the state, advised by the International Finance Corporation has to decide on what to do.  Either it accepts this revised offer or  it will have to invite bids afresh and get the necessary clearances from the Centre.Remember that the project requires an invetsment of INR 970 crore (US$ 185 million) on building the superstructure and installing other equipment.Project Profile
 



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