India: M/s PSA Investments Bags Jawaharlal Nehru Port Deal
- Business & Finance
M/s PSA Investments Pvt. Ltd. has won a contract for development of 4th Container Terminal at Jawaharlal Nehru Port, with a quay length of 2000 m.
The estimated project cost for development of this terminal on design, build, finance, operate and transfer (DBFOT) basis is Rs.7915.
At yesterday’s meeting of the Board of Trustees of JNPT, officials cleared the proposal and decided to issue the “Letter of Award” for development of this container terminal, with a capacity of 4.8 million TEUs per annum.
A global tender notice was issued in June last year and in response eight bidders submitted their Request for Qualification (RFQ). RFP was issued to seven qualified bidders in December 2013.
Two bidders, viz. M/s PSA Bharat Investments Pvt. Ltd. and M/s Adani Port & SEZ Limited in consortium with Terminal Investments Ltd., SA, had submitted their price bids last Thursday. M/s PSA Investments Pvt. Ltd. was the highest bidder, which had quoted the highest percentage of revenue share of 35.79%. This was approved, and accordingly the LOA, issued to the party.
As per the terms of the LOA, the party should sign the Concession Agreement within 30 days from the date of issue of the LOA.
Press Release, February 27, 2014