Vizhinjam International Seaport Ltd (VISL) has opened the financial bid for the multi-thousand crore project submitted by a consortium led by Welspun Infratech here on Monday.

The bid was opened by a committee consisting of the Managing Director and Chief Executive Officer, the Chief Operating Officer, VISL; and Joint Secretary, Ports Department, Kerala, in the presence of the authorised representative of the bidder and the project advisors, International Finance Corporation.

ONLY BID

Other members of the consortium are Welspun Corporation (India) and Leighton Contractors (India).

This was the only bid in the fray for the port operator after the Ministry of Home Affairs refused final clearance to Adani Ports and SEZ Ltd (erstwhile Mundra Ports and Special Economic Zone), the only other contender that had made it to the penultimate stage of bidding.

Adanis were reportedly denied security clearance by the Union Government. An official spokesman for VISL, a special purpose vehicle, set up by the Government of Kerala, said that the Welspun consortium has requested a grant of Rs 479.54 crore (in present value terms) from the State Government spread over the initial 16 years.

BID EVALUATION

The concession period for the bid of 30 years and the revised estimate of the project is Rs 4,010 crore. Of this, the port operator is envisaged to bring in Rs 970 crore.

The spokesman said that the financial bid and the numbers stated are subject to responsiveness check by the project advisors.

The bid evaluation report from the advisors shall be put up to the Empowered Committee under the Chairmanship of the Chief Secretary, Government of Kerala.

Decision soon

The recommendations of the committee shall be forwarded to the Government of Kerala for a decision on the matter.

The company expects to get the evaluation report during the course of this week itself, the spokesman said.

> vinson@thehindu.co.in

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