The Hindu : Front Page : 14 RFQ bids for Vizhinjam project

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Tuesday, Jan 11, 2011
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14 RFQ bids for Vizhinjam project

Special Correspondent

VISL board to shortlist bids by Friday

THIRUVANANTHAPURAM: Vizhinjam International Seaports Limited (VISL) has received 14 bids in the Request for Qualification (RFQ) stage.

The VISL board met here on Monday and opened the bids. Chief Executive Officer Sanjay Kaushik told The Hindu that the board would evaluate the bids and publish the names of the shortlisted companies/ consortiums on Friday.

Most of the major consortiums that had shown interest earlier in associating with the Rs.5,900-crore project for setting up a deepwater container transhipment terminal at Vizhinjam, near here, are once again among the interested parties in the fresh bidding process, he said.

A consortium of financial institutions led by State Bank of Travancore (SBT) made a presentation before the VISL board detailing the financing options for the first stage of the project. The first stage is expected to require an investment of Rs.2,500 crore. Top officials of SBT and SBI Caps did the presentation.

According to the consortium's plan, the required Rs.2,500 crore will be raised by way of term loan and bonds. There will be a moratorium for four years. The interest rate will range between 9 and 10 per cent. It promised to raise the sum by February-end.

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