APSEZ offered a share of 0.25 per cent of gross revenue, which is marginally higher than the second bidder who offered 0.23 per cent. The revenue share will increase to 4 per cent, but that will be at a much later date in the concession period, which is 99 years. Now it will be placed before the state cabinet for final approval.
As per an analyst, 0.25 per cent revenue share is very low and will lead to an adverse impact on the existing Kolkata Port. The West Bengal government expects the first phase of the project to be completed in three-four years. Road access to the site is the biggest challenge, while railway connectivity is also crucial. As such, for a 15-16 metre draft, an 18-km channel has to be built into the sea. For Panamax size vessels, 12 meters draft is necessary for which APSEZ will get 125 acres of seafront land for the development of the port, and another 1,000 acres, situated 4 km away, for port-linked industrial development.
