BL reported that the Paradip Port Trust hopes to sign shortly the concession agreement with the consortium led by the Hong Kong based Nobel Group selected for the construction of the 10 million tonne per annum capacity deep draught iron ore berth at the port.

Mr K Raghuramaiah chairman of PPT said “If everything proceeds according to the schedule, we should be able to sign the concession agreement with the Nobel Group by the end of this month in New Delhi, hopefully in the presence of the Shipping Minister. The project has to be ready for operation within 36 months from the signing of the agreement.”

The berth is to be built by the Nobel Group led consortium, the other partners being MMTC and Gammon India Ltd, on the PPP model that is construction will be on BOT basis and subsequently there will be revenue sharing with the port. The cost is estimated at INR 500 crore.

Meanwhile, following the SC order, the PPT has initiated steps to re-invite financial bids from the firms shortlisted for the construction of the 10 million tonne per annum capacity coal berth at the port. However, no decision in this regard could be taken by the port authorities until further orders by the court.

The apex court’s order came on a Special Leave Petition filed by the PPT challenging the Orissa HC interim ruling that retrained the port from going ahead with the bidding process for the coal berth. The HC order was passed on a plea filed by Jindal Steel and Power Ltd which was not found eligible for bidding for the coal berth at the very initial stage.

It is learnt that JSPL has been granted three weeks to submit its views on the SC order.

(Sourced from Business Line)