India-based conglomerates Adani Ports and Essar Ports are in the final race to bid for the construction of the US$700 million container terminal at Chennai Port, reported Contify.com.
The request for proposal (RFP) level of the procurement process there were eight firms for the project. Out of those only two firms Adani Ports and Special Economic Zone and a consortium of Vadinar Oil Terminal and Essar Ports had submitted their bids.
"We have sent the proposals of Essar Ports to the Centre to obtain security clearance as there is a change in the shareholding pattern and as far as Adani Ports is concerned, there is only a change in the company's name whereas the board of directors are the same," Atulya Misra, chairman, Chennai Port Trust, said.
Adani Ports is bidding for the project for the second time. It was the sole bidder in the first round. But its bid was rejected by the Chennai Port authorities as it was too low. Thus Chennai Port Trust called for fresh bidding again, where seven firms participated in the process.
After the completion of the bidding process Chennai Port Trust's share out of the total project cost will be $106.6 million and the private partner will invest Rs $593.6 million. The selected bidder will build, own and transfer the project.
The request for proposal (RFP) level of the procurement process there were eight firms for the project. Out of those only two firms Adani Ports and Special Economic Zone and a consortium of Vadinar Oil Terminal and Essar Ports had submitted their bids.
"We have sent the proposals of Essar Ports to the Centre to obtain security clearance as there is a change in the shareholding pattern and as far as Adani Ports is concerned, there is only a change in the company's name whereas the board of directors are the same," Atulya Misra, chairman, Chennai Port Trust, said.
Adani Ports is bidding for the project for the second time. It was the sole bidder in the first round. But its bid was rejected by the Chennai Port authorities as it was too low. Thus Chennai Port Trust called for fresh bidding again, where seven firms participated in the process.
After the completion of the bidding process Chennai Port Trust's share out of the total project cost will be $106.6 million and the private partner will invest Rs $593.6 million. The selected bidder will build, own and transfer the project.