Kakinada Seaports consortium wins bid to develop coal terminal at Paradip
A consortium led by Kakinada Seaports Ltd has won the rights to develop and operate a coal handling terminal for 30 years at Paradip Port. The port authority had called for fresh bids for the project after scrapping the earlier deal awarded to Essar Ports Ltd citing the firm’s failure to achieve financial closure. The Kakinada Seaports Ltd-bothra Shipping Services Pvt Ltd-ripley & Co consortium placed a revenue share bid of 36.53 per cent to clinch the deal for building a deep-water terminal with a capacity to load 10 million tonnes (mt) of coking coal a year. The cost for developing the terminal is estimated at `655.56 crore.