Mercator Submits Lowest Bid for Mormugao and Porbandar Deals
- Business & Finance
Mercator Ltd, one of India’s diversified conglomerates with interests in coal, oil and gas, shipping and dredging, has emerged as the lowest bidder for the Mormugao and Porbandar dredging contracts.
According to the company’s latest announcement, these dredging projects have an estimated combined contract value of $2.3 million.
Under the Mormugao part of the agreement, Mercator will be in charge of maintenance dredging operations, aimed to allow the port to bring larger vessels in through the entrance channel.
The previous capital dredging was undertaken by the port in 2002 to deepen the entrance channel from 13.4 m to 14.4 m.
The contracts are set to be executed in FY 2019, Mercator said.