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V.O. Chidambaranar Port Authority, managing the port in Tamil Nadu’s Thoothukudi district, invites bids for constructing a 4 million twenty-foot equivalent units (TEUs) capacity container terminal in the port’s outer harbour. The 45-year deal, valued at Rs 7,055.95 crores, adopts viability gap funding (VGF) as the sole criterion for awarding the contract, marking a significant shift from traditional port privatization models. Bidders are evaluated based on the lowest VGF proposed, signifying a departure from previous royalty-based contract models.

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Note: Note: The above-mentioned news was first published by us in our ProjectX India | 1st March 2024 edition.. To get this issue or our latest issue with full contact details, you can buy this issue by clicking here…

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