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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.
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.