The consortium led by Welspun Infratech Limited (India) has reduced its grant demand for taking up the port operator’s role at the proposed Vizhinjam International Transhipment Terminal from the originally quoted sum of Rs.479.54 crore to Rs.399.50 crore. This new offer from the consortium reached the government on Saturday, a top official said.

Parvez Umrigar, Managing Director and Chief Executive Officer of Welspun Infratech, and Vineet Mittal, Managing Director of Welspun Energy Limited, had had discussions with the State government’s negotiation committee here earlier in the week. The offer is the outcome of the discussions.

The Welspun consortium is the only bidder for the port operator’s role. Because of the demand for the grant, there were two opinions in the government whether to accept the consortium’s bid, or go for re-tender trying to get more bids for a comparison of costs.

More In: Companies | Business