The Visakhapatnam Port Trust (VPT) has decided to opt for rebidding of the Rs 633.11 crore container terminal expansion project as the gross revenue share offered by Visakha Container Terminal Private Limited (VCTPL), the existing container terminal operator, did not meet the expectations of the port.
Sources said that VCTPL had offered to increase the gross revenue share from the earlier quoted 4.06% to 10% as its final offer. However, VPT sources said that port’s board of trustees unanimously rejected the latest offer by VCTPL and decided to go for a rebid starting from Request for Proposal (RFP) stage. This means that those who had qualified during the first tendering process can now submit fresh bids. During the earlier tendering process, seven private players had expressed their interest in the project at the Request for Qualification (RFQ) stage, but VCTPL emerged as the lone bidder for the project.
Full report here Times of India