Kerala has received initial bids from 14 entities for developing a 2,620 crore port at Vizhinjam on the outskirts of Thiruvananthapuram. Those who have applied for qualification include GMR Infrastructure Ltd, GVK Power and Infrastructure Ltd, Gammon Infrastructure Projects Ltd and Reliance Infrastructure Ltd. The board of Vizhinjam International Seaport Ltd approved a plan on Monday to mandate State Bank of Travancore as the lead banker and SBI Capital Markets Ltd as the lead arranger to raise 2,500 crore to fund the project through term loans and bond issues, according to Sanjeev Kaushik, secretary (ports), Kerala. Vizhinjam International Seaport is a special purpose company set up by the Kerala government to implement the project. The multi-purpose port at Vizhinjam will have a capacity to load 2.8 million standard containers and 1.8 million tonnes of other cargo a year.
The project is split into two parts. The first is for the design, engineering, financing, development of superstructure such as buildings and cargo handling equipment at the port as well as the operation, maintenance and management of the terminals at an estimated cost of 970 crore.
The successful bidder will have the conditional right of first refusal in the subsequent engineering, procurement and construction tender for the civil infrastructure construction, which is estimated to cost another 1,650 crore.