 Online edition of India's National Newspaper Sunday, Jun 28, 2009 ePaper | Mobile/PDA Version |
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Kerala
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Thiruvananthapuram
THIRUVANANTHAPURAM: Hyderabad-based Lanco Infratech Limited said on Saturday that it had withdrawn from its offer to execute Vizhinjam International Transhipment Container Terminal Project as the validity of its proposal had expired. In a press release issued here, the company said that as per the Request for Proposals (RFP), the validity of the bid was for eight months from the bid date. The bidder was not obligated to extend the bid validity beyond that period. However, Lanco had extended the bid twice by almost six months. “Subsequently, the protracted litigations and an atmosphere vitiated by baseless speculations have altered our due diligence perspectives on the project. “Following this, in spite of our investing tremendous time and resources over two years on the project, Lanco has informed the Government of Kerala that since the validity of the proposal in response to the RFP expired on April 30, 2009, its offer stands revoked.”
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