VSIL approves Adani ports tender

Moving ahead in realising Kerala's dream project -- the Vizhinjam international deep water seaport project -- Vizhinjam Seaport International Ltd (VSIL) today gave green signal to the tender submitted by Adani Ports for development of the port.
Board meeting of VSIL, the special purpose vehicle to implement the project, chaired by Chief Minister Oommen Chandy approved the decision of the Empowered Committee headed by Chief Secretary Jiji Thomson's recommendation to accept the tender submitted by Adani Ports.
During Cabinet briefing here today, Chandy said the board accepted the empowered committee's recommendation and it would now be considered by the Cabinet.

State Minister for Excise and Ports K Babu said the decision was unanimous as the Empowered Committee had considered all aspects, including legal side.
Only Adani Port bid for the project when the last date for submitting the tender for bidding ended on April 25.
The project conceived decades ago was delayed due to various reasons and it got fresh life after the UDF came to power in 2011.

The project had faced hurdles recently with no company submitting final bid for taking up the contract for its construction and operation when last date for bidding ended in February last, even though five companies expressed interest for the project.

Following this, VSP extended the time for submission of tender.
The Chief Minister had held a pre-bid meeting with prospective companies, including Adani Ports.
The contract is for building port superstructures, estimated to cost Rs 7,524 crore and operate the port for a period of 40 years. The PPP portion would come to around Rs 4,080 crore.