The Kerala government in the southernmost tip of India has issued a letter of intent to Hyderabad-Based Lanco Infratech Limited, concerning its decision to award the contract to redevelop the Vizhinjam International Transhipment Terminal to a consortium comprising Lanco and Pembinan Redzai Sdn Bhd of Malaysia.
The licence agreement for the project will be signed in the next six weeks by the Kerala Government and a special purpose company (SPC) which is to be incorporated by the Lanco consortium. The Kerala government will take a 24 per cent equity stake in the SPC, reports India's Express News Service.
The project calls for the development of the international container transhipment port in four phases to eventually provide a box handling capacity of 6.5 million TEU.
Phase one is expected to be open for business by the end of 2012.
The licence agreement for the project will be signed in the next six weeks by the Kerala Government and a special purpose company (SPC) which is to be incorporated by the Lanco consortium. The Kerala government will take a 24 per cent equity stake in the SPC, reports India's Express News Service.
The project calls for the development of the international container transhipment port in four phases to eventually provide a box handling capacity of 6.5 million TEU.
Phase one is expected to be open for business by the end of 2012.