A Kakinada Seaports Ltd-led consortium has been awarded a concession to develop and operate a coal handling terminal at Paradip Port, in Orissa, for 30 years.
Its bid contained the highest revenue share price bid in a re-tender for the project.
The consortium, which consists of Kakinada Seaports Ltd, Bothra Shipping Services Pvt Ltd and Ripley & Co offered a revenue share price bid of 36.53%.The terminal will have a coking coal dispatch capacity of 10 million tonnes, once operational, according to Paradip Port Trust Deputy Chairman N Vaiyapuri.
“The Kakinada Seaports consortium has been issued a letter of award (LoA) for the project after the board of trustees cleared the highest price bid submitted by the group,” said Vaiyapuri.
The consortium said that the terminal will cost an estimated $10.229 million to develop.