Welspun’s final offer likely soon

July 05, 2012 01:44 am | Updated November 16, 2021 11:01 pm IST - THIRUVANANTHAPURAM:

The consortium led by Welspun Infratech Limited (India) will decide within two-three days the lowest it could go in taking up the port operator’s role at the proposed Vizhinjam International Transhipment Terminal.

Parvez Umrigar, Managing Director and Chief Executive Officer of Welspun Infratech, and Vineet Mittal, Managing Director of Welspun Energy Limited, had discussions with the State government’s negotiation committee here on Wednesday. The committee included government secretaries for Ports and Law, besides the Managing Director and Chief Executive Officer of Vizhinjam International Seaports Limited, the government company in charge of executing the port project.

A top government official said Welspun’s representatives had assured the negotiation team that the consortium would communicate it’s decision after placing the details of the negotiation before the board of directors. The consortium, which is the only bidder for the port operator’s role, had sought a grant of Rs.479.54 crore, to be given over 16 years, from the State government.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.