India: JNPT Terminates Contract with PSA
The Jawaharlal Nehru Port Trust (JNPT) has terminated the contract awarded to Singapore’s PSA International to build its fourth container terminal.
The JNPT took action as the Singapore government-owned port operator failed to sign a concession agreement; a document that sets the terms and conditions of a contract and puts a project in motion.
This decision was taken by the Port’s Board of Trustees on Monday, according to the Exim India.
“While the termination process is on, the Port will simultaneously commence on the re-tendering procedures, which will take a few months to be finalised and ready,“ stated a Senior Port Official.
Dredging Today Staff, September 20, 2012