Adani Ports finally gets security nod to bid for port auctions
Security clearance to the firm will be valid for a period of 3 years, will enable APSEZ to bid for port tenders anywhere in India
Bangalore: Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operator, has been granted security clearance by the government to participate in auctions for port projects after a gap of more than two years.
The security clearance procedure was revamped by the union cabinet in December 2012.
“Henceforth, security clearance for port bidders will not be project specific," said N. Muruganandam, joint secretary looking after ports in the shipping ministry.
A spokesman for APSEZ said that it was yet to receive any communication on the issue.
The Essar Group, the only other bidder to submit a price bid had quoted a revenue share of 5.25% for the project when the bid was opened on 24 December. Ports tenders are decided on the basis of revenue share. The entity willing to share the most from its annual revenues wins the deal.
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