ITD Cementation India Ltd, a unit of Adani Group, is set to win a contract to undertake nearshore reclamation and shore protection works on engineering, procurement and construction (EPC) mode for the planned mega port at Vadhvan in Maharashtra by placing the lowest price quotation of Rs 1,648 crores when the bids were opened.
The price bid submitted by ITD Cementation India was 6.89% lower than the Rs 1,770 crores (excluding GST) estimated by Vadhvan Port Project Ltd, a special purpose vehicle 74% owned by state-run Jawaharlal Nehru Port Authority which is implementing the new port, billed India’s largest by capacity. Maharashtra Maritime Board holds the balance 26 percent equity in the SPV.
Vadhvan Port will be designed to handle 298 million tonnes (mt) of cargo, including 23.5 million twenty-foot equivalent units (TEU’s).
The port, estimated to cost Rs76,220 crores, will be built on 1,448 hectares of reclaimed land. Out of this, some 197 hectares of land will be developed close to the shore to help offshore works like breakwater construction and reclamation. The reclaimed land will be used as a platform for the port’s onshore facilities such as breakbulk cargo, liquid bulk cargo, common port infrastructure, buildings, utilities and gate complex.
ITD Cementation India pipped a joint venture between MAN Infraconstruction Ltd and Thakur Infraprojects Pvt Ltd to clinch the work. The MAN Infraconstruction led JV quoted Rs1,755 crores for the work, some 0.847% lower than the estimated cost of Rs1,770 crores. The third bidder in the fray – Navayuga Engineering Co Ltd – quoted Rs2,070 crores, about 16.949% more than the estimated cost. ITD Cementation India Ltd was recently acquired by Renew Exim DMCC, a unit of Adani Group.
ITD Cementation India had carried out works for building a liquid terminal at Jawaharlal Nehru Port Authority and was involved in the construction of Bharat Mumbai Container Terminals Pvt Ltd, the facility run by Singapore’s PSA International Pte Ltd, also at J N Port. The basic infrastructure for the new deep-water port such as dredging, reclamation, shore protection works, breakwater, approach trestle, rail and road connectivity, land acquisition and other common utilities, entails an investment of Rs38,976 crores.
