An empowered committee headed by the Kerala Chief Secretary has recommended to the state cabinet the lone bid of Adani Ports and Special Economic Zone for the Vizhinjam project.
The Adanis will build the port superstructure and operate the proposed international multi-purpose port and container transhipment terminal at Vizhinjam, near here.
GRANT SOUGHT
The Adanis had proposed the bid on April 24. It had sought Rs 1,635 crore as grant for the project, to be executed in partnership with the state.
The board of special purpose vehicle, Vizhinjam International Seaport Ltd, will meet here on May 13 to ratify the decision of the empowered committee.
Following this, the bid will be referred to the state cabinet for its final approval.
Any misgiving on the legal sanctity of the lone bid was cleared after the law and stores purchase departments gave their positive feedback.
PHASE ONE
The empowered committee had considered the global bidding process, procedures followed, and the Central Vigilance Commission guidelines before referring the bid to the cabinet.
Phase 1 of the project is estimated to cost Rs 7,525 crore, of which the public-private partnership component alone will account for Rs 4,089 crore.
Of this, 40 per cent will come as viability gap fund, to be shared equally between the state and Central governments.
The state will take up construction of the breakwater and the fishing harbour.