The Hindu Business Line : 3rd box terminal: JNPT signs pact with Gateway Terminals

THE curtain has come down on the protracted bidding process for the Rs 1,000-crore third container terminal project at Jawaharlal Nehru port, with the port signing the licence agreement with the successful bidder, Gateway Terminals India Pvt Ltd (GTIPL), a joint venture between APM Terminals and Concor.

While APM Terminals holds 74 per cent stake in the company, Concor has 26 per cent.

The APM Terminals-Concor combine had elbowed aside the remaining three bidders in the race — United Liner Agency of the JM Baxi Group, Port of Singapore Authority-Bombay Dyeing Group combine and the French liners CMA-CGM, by quoting the highest revenue share offer of 35.5 per cent. Under the agreement, Gateway Terminals will have to develop the bulk facility into a modern 1.3-million TEU capacity container terminal within 24 months so that it becomes operational by August 2006.

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