: The sole bid submitted by the private multi-port operator Adani Ports and Special Economic Zone Ltd (APSEZ) to build the port superstructure and operate Vizhinjam International Multi-Purpose Seaport project will come up before the Cabinet on Wednesday.
Chief Minister Oommen Chandy told reporters here on Monday that the sole bid recommended by the Empowered Committee headed by the Chief Secretary and the board of Vizhinjam International Seaport Ltd (VISL) would be placed in the Cabinet.
Official sources said a detailed note had already been prepared covering all aspects, including the legal angles, for placing the bid in the Cabinet.
The port operator has sought Rs.1,635 crore as grant for the Mission 676 project to come up partnering the State. The Letter of Award (LoA) , the first communication to the APSEZ, has to be issued with one month as per the draft concession agreement. Sources said the government can issue the LoA within 48 hours. The APSEZ will have to remit the Rs.120 crore as security before signing the concession agreement with the government. Sources said the Ahemdabad-based port operator is likely to commence the work only after the Southwest monsoon.
