Gammon inks pact with Mumbai Port for Rs 1,200-cr terminal project

December 4, 2007

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CHENNAI: Gammon India Ltd has informed the BSE that Indira Container Terminal Pvt Ltd, the special purpose vehicle incorporated by the consortium of Gammon and Dragados S.P.L., on December 3 signed the licence agreement with the Mumbai Port Trust for dev eloping the Mumbai Offshore Container Terminal Project.

The project’s estimated cost is Rs 800 crore in the initial phase of three years, and Rs 400 crore subsequently, thus aggregating Rs 1,200 crore.

It is on BOT basis for 30 years, including three years of construction and equipping period, from the date of signing the licence agreement. – Our Bureau

Source: thehindubusinessline.com