The much talked about project to develop Azhikkal port in Kannur has once again hit a stumbling block with the state government rejecting the proposal of ABG Group, the sole bidder, to develop a cement terminal there.
According to sources, the government decided at a high level meeting on Monday to reject the bid of ABG Group, which came forward to develop the terminal at a cost of Rs 120 crore. The rejection was on certain technical grounds including disagreement on the revenue share offered by the company. The argument is that the offer made by the bidder to give Rs 9 per metric tonne of the consignment coming to Azhikkal will be negligible over the years and hence it is better to go for fresh bidding.
Full report here Times of India