Essar Ports – Lone Bidder for Chennai Port Project (India)
Essar Ports has offered a revenue share of 5.25 per cent for the Rs 3,700-crore mega container terminal project at Chennai port, slightly above the 5 per cent Adani Ports offered in the earlier bid, according to thehindubusinessline.com.
A senior Chennai Port Trust (ChPT) official stated that Essar and Adani were the only bidders for this capital project, but Adani could not get security clearance on time, leaving Essar as the lone bidder.
Thehindubusinessline.com reports that Essar Ports plans to invest in the construction of a berth and two breakwater, reclamation of backup area, handling equipment and other landside infrastructure.
Dredging Today Staff, December 25, 2012