Lanco pairs with Gulftainer to bid for Rs900 cr project

Lanco pairs with Gulftainer to bid for Rs900 cr project

Mumbai: Hyderabad-based infrastructure developer Lanco Infratech Ltd has teamed up with the Sharjah-based container port operator, Gulftainer Co. Ltd, to bid for the planned coal and iron ore berths at the Union-government-owned Paradip port.

These two projects, each with a capacity to handle 10 million tonnes of imported coking coal and iron ore a year, will cost about Rs900 crore to build. The bid document required that entities seeking to qualify for the projects should have experienced port operators as their partners.

“Gulftainer has joined us as the port operator for the coal and iron ore projects," said a Lanco Infratech official, who did not want to be named. Lanco Infratech is among 17 entities that have submitted initial bids for the project.

The Bombay Stock Exchange-listed Lanco and Gulftainer signed an agreement last week to bid jointly for various port and transportation projects both in India and abroad. “There are a couple of projects in India and other countries in which we would be working together," Peter Richards, director and general manager of Gulftainer told Mint from Sharjah. The two entities are assessing projects in West Asia, India and the eastern Mediterranean worth close to $1 billion (Rs4,050 crore), he said.

Gulftainer was set up in the Emirate of Sharjah in the United Arab Emirates (UAE) primarily to manage and operate the container terminals in Port Khalid and also Khorfakkan on behalf of the Sharjah Port Authority.

The port operator also owns one of the largest heavy transport fleets in the UAE.