Updated: July 14, 2015 1:38:48 am
The Congress Government in Kerala on Monday issued the letter of award (LOA) to Adani Ports and Special Economic Zones Limited for the construction and operation of the proposed Vizhinjam international container transshipment port on PPP model.
Last month, the Cabinet had accepted the bid of the Adani Ports to develop the project, which had no takers in the past despite several rounds of bidding. First phase of the project would cost Rs 7,525 crore.
Of this, Adani Group would invest Rs 2,454 crore and has sought a grant of Rs 1635 crore from state and central governments.
The LOA issued to the company said the grant of Rs 1635 crore has been accepted. As the next step, the Adani Ports has to execute the concession of agreement within 45 days of the receipt of the LOA.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.