Port project worth Rs. 3,000cr up for grab

The state government in Andhra Pradesh is all set to award a mega port project at an investment worth Rs. 3,000-cr in the north coastal region of the state. On this score, the government has set June 30, 2016 as deadline for submitting bids for the green-field Bhavanapadu Port in Srikakulam district. It may be recalled that in December last year the government had short-listed three firms including Adani, Gangavarm Port Limited and Navayuga of CVR group which runs the Krishnapatnam Port, said official sources adding that one of the short-listed companies confirmed that they would be very much in the fray. The project in question is to be developed on a Design-Build-Finance-Operate-Transfer (DBOFT) basis and will be awarded to whoever offers the highest revenue share to the government. In the first phase, which comprises of five berths among other infrastructure facilities, has to be completed in three years from the date of award of the project.

Published: 27 May 2016