The Gujarat government has extended the deadline for bids to open the greenfield port in Nargol by two months.According to a government official, the decision came after inquiries from prospective bidders such as Adani Ports and Special Economic Zone (APSEZ) and DP World, a Dubai-based logistics firm, who needed more time to conduct research at the site before submitting proposals.According to sources, the Gujarat Maritime Board (GMB), the state maritime authority, has extended the deadline for global bids to complete the development of Nargol port by Rs 3,800 crore.According to reports, other than Adani and DP World, JSW Group and Essar Group have expressed interest in participating in the pre-bid meetings.
After a port project in Maroli, about 10 kilometers away from Nargol, was abandoned due to local fishermen’s protests, Nargol was named as the new port site.According to a company official, GMB gave prospective bidders some pre-feasibility reports, but the organizations do need to conduct in-depth site surveys to confirm financial stability, connectivity, and other aspects before making their bids.
GMB cancelled the work awarded to a consortium of Cargo Motors Pvt Ltd and Israel Ports Co for the construction of the Nargol port project in 2012.This happened after the company missed several deadlines for completing the project.According to the Schedule of Port Charges (SoPC), GMB has provided a discount of 20% on waterfront charges for the first time to make the initiative more attractive.
Also, the concession period under the UNSC Build Operate Own and Transfer (BOOT) program has been extended from 30 years to 50 years.
According to GMB, the discount would result in better planning criteria and would enable the developer to raise money at lower rates.
According to the proposed waterfront royalty scheme, the state has so far delivered the construction of four private ports in Mundra, Pipavav, Dahej, and Hazira.
Source : The Times Bureau
