Naveen Jindal-led Jindal Steel & Power Ltd (JSPL) has emerged as the highest bidder on a tender floated by State-owned Paradip Port Authority to build a 25-million tonne (mt) capacity, deep draft, dry bulk cargo terminal at the Western Dock of the port located in Odisha with an investment of ₹2,392.13 crores.
In a surprising development, Adani Ports and Special Economic Zone Ltd (APSEZ) – which is fighting in multiple courts including Odisha High Court to reverse its disqualification from port tenders – did not place a price quotation when the bids were opened on Monday, government sources said. JSPL beat Essar Ports Ltd and Navayuga Engineering Company Ltd to emerge the highest bidder.
Paradip Port Authority disqualified APSEZ from the tender on March 10. This move came a week after a single-judge Bench of the Andhra Pradesh High Court upheld the decision by Visakhapatnam Port Authority, also State-owned, to exclude APSEZ from a tender for mechanization of West Quay Berths 7 and 8 at the port in Vizag citing termination of a coal terminal run by India’s biggest private port operator there.
Tenders issued by State-owned ports stipulate that an applicant will be disqualified if a public entity had terminated any of its contracts for breach of terms.
